Remember: Banks Are Closed on Memorial Day

Memorial Day commemorates courageous soldiers who lost their lives in the line of duty — all in the name of freedom. Each year, it’s observed on the last Monday in May, and though it has come to be known as the unofficial start of summer, Memorial Day is also a federal holiday acknowledged across the United States. That being said, banks will be closed on May 25.

According to Banks.org, nearly all major banking institutions and credit unions are closed on Memorial Day 2021. But don’t fret, you can still stop by any ATM and access funds on your bank’s website or mobile app. Although you can make a deposit on Memorial Day, keep in mind that it isn’t considered a business day and that the transaction won’t be posted until the following day. The same goes for wire transfers, which require a bank employee’s help.

It’s important to call your local branch ahead of time if you foresee needing to work directly with a bank employee around the holiday.

To help you plan ahead, here’s more information about what’s open on Memorial Day.

Are credit unions open on Memorial Day?

If you’re a credit union member, you’re also out of luck. Credit unions will be closed on Memorial Day. In particular, Navy Federal lists the holiday as one of the 10 observed by its branches. These are all the other credit unions closed on Memorial Day:

• AlaskaUSA

• Alliant Credit Union

• American First

• Chartway Federal Credit Union

• Conexus Credit Union

• Consumers Credit Union

• First Tech Credit Union

• Mountain America

• NASA Federal Credit Union

• PenFed

• Security Service

• Space Coast Credit Union

• State Employees’ Credit Union

• Suncoast Credit Union

• The Golden 1 Credit Union

Are stock markets open on Memorial Day?

The stock markets will be closed on Memorial Day. Memorial Day is one of the nine holidays observed by the New York Stock Exchange. NASDAQ also has it listed as one of its 12 holidays of 2021.

Is the U.S. Post Office open on Memorial Day?

Don’t expect any mail to be delivered on May 31, because the U.S. Post Office will be closed on Memorial Day. UPS and FedEx will also be closed, but business will resume as usual the next day.

What are other bank holidays for 2020 I should know about?

The Federal Reserve System recognizes the following dates as upcoming federal or bank holidays of the year:

• July 4 - Independence Day

• September 2 - Labor Day

• October 14 - Columbus Day

• November 11 - Veterans Day

• November 28 - Thanksgiving Day

• December 25 - Christmas Day

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