A power transfer case transfers drive torque from the input member to the output member. The power transfer case includes a lubrication system, a hydraulically actuated friction clutch assembly, and a hydraulically actuated range shift assembly. An on-demand electric lube pump can supply a fluid under pressure. An accumulator is selectively supplied with fluid under pressure from the on-demand lube pump. A first valve selectively directs fluid under pressure from the on-demand lube pump to the lubrication system when in the first position and to the accumulator when in a second position. A second valve selectively directs fluid under pressure from the accumulator to the range shift assembly when in a first position, to the friction clutch assembly when in a second position, and isolates the accumulator from the range shift assembly and the friction clutch assembly when in a third position.