Memorial Day is a federal holiday celebrated on the last Monday in May. Memorial Day 2014 will be celebrated on May 26. For many, the holiday is viewed as the unofficial start of summer.
Activities over Memorial Day weekend often include shopping Memorial Day sales or participating in seasonal activities like cook outs, road trips, picnics and swimming. But Memorial Day is also an opportunity to commemorate the men and women who’ve lost their lives in military service.
Those who choose to observe the spirit of Memorial Day often do so by visiting memorials, cemeteries or grave sites of fallen soldiers. As of 2000, Memorial Day also includes an moment of remembrance to be observed at 3:00 p.m. local time, according to the U.S. Department of Veteran Affairs.
Why Banks Are Closed On Memorial Day
With Memorial Day weekend shopping to do, meals to prep and travel to pay for, consumers might find a reason to visit the bank on Memorial Day.
Unfortunately, Memorial Day is one of ten major U.S. banking holidays, which the Federal Reserve Bank and other banks typically close for. This U.S. public holiday is widely observed by institutions like schools, local and federal government offices, corporations, and banks.
On these bank holidays, it is customary for banks to close. This break from usual business hours gives bank employees a break from their usual labor so they can properly recognize the given holiday. For those wondering: Is the post office open on memorial day? The answer is no, along with other notable organizations such as the stock markets.
Try In-Store Branches for Bank Access on Memorial Day
Still, there might be a few banks open for Memorial Day. GOBankingRates found that banks open on Memorial Day are likely to only open their in-store locations, and typically offer limited holiday hours. Heading to an in-store or supermarket branch is your best bet for branch access, but you should still check with your financial institution to confirm its hours of operation on Memorial Day.
The most notable banks open on Memorial Day are U.S. Bank and PNC Bank, both of which are offering hours at their in-store locations. U.S. Bank, which has the most in-store branches of any bank in the nation with 766 locations according to a report from SNL Financial, will be opening many of its in-store locations on Memorial Day.
Banks that typically offer weekend hours will likely remain open on May 24 and 25, but it’s best to check with your bank to determine its hours of operation over Memorial Day weekend.
GOBankingRates identified the following credit unions and banks open on Memorial Day:
- American Savings Bank: This Hawaii bank will be offering limited holiday hours at in-store locations and its Makiki branch.
- Central Pacific Bank: In-store branches and three other main branch locations will offer limited hours on Memorial Day; visit the Hawaii bank’s site for details on locations and hours.
- First Convenience Bank: In-store locations of the Texas bank will be open from 10 a.m. to 5 p.m. on Memorial Day.
- Fort Financial Credit Union: Some of the credit union’s Indiana in-store locations will be open from 11 a.m. to 5 p.m. on Memorial Day.
- Landmark Credit Union: The Milwaukee credit union’s in-store locations will be open until 1 p.m. on Memorial Day.
- Metro Bank: The bank’s branch in downtown Harrisburg, Pa. will hold Memorial Day hours from 7:30 a.m. to 1 p.m.
- Rockland Federal Credit Union: The Maryland credit union is opening its Weymouth and in-store branches on Memorial Day, from 10 a.m. to 2 p.m.
- PNC Bank: Some of the bank’s supermarket locations will be open for Memorial Day; check with your local branch for hours and details.
- U.S. Bank: Many in-store branches will be open on Memorial Day, though no universal hours are posted for all branches, so be sure to check with your location to verify its hours.
- Veridian Credit Union: This Iowa credit union will open its in-store Hy-vee branches from 10 a.m. to 2 p.m. on Memorial Day.
Many banks will still be closed, however; GOBankingRates verified that Bank of America, Capital One, Chase Bank, Citibank, HSBC Bank, TD Bank and Wells Fargo branches will be closed on Memorial Day.
Photo credit: David Yu
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