Are Banks Open on Martin Luther King Jr. Day 2015?

Martin Luther King Jr. Day (Monday, January 19, 2015) is just around the corner, and it can get confusing whether or not banks and credit unions are open or closed on this day. That’s because even though Martin Luther King Jr. Day is a federal holiday, the day off work only applies to only federal employees. Private businesses, such as credit unions and banks, decide for themselves whether or not to stay open or close on federal holidays.

Martin Luther King Jr. Day is observed on a Monday each year which makes for a bit more confusion. Mondays are a day banks and credit unions are typically open for business, unlike Sunday when most banks are closed. In most cases, the answer to the question, “Are banks open on Martin Luther King Jr. Day?” is “No, they are closed.” Most banks have a holiday schedule which basically mirrors fedederal holidays, but there are some exceptions.

Are banks open on Martin Luther King Jr. Day?

No, most banks are closed on Martin Luther King Jr. Day. While Martin Luther King Jr. Day is a federal holiday and most banks close their doors for the day, not all do. TD Bank is one exception, and its branches stay open on Martin Luther King Jr. Day. Some banks located in other retail outlets, such as Walmart and grocery stores, may also remain open for the day.

Are credit unions open on Martin Luther King Jr. Day?

No, most credit unions are closed on Martin Luther King Jr. Day. Much the same way as most banks will be closed on Martin Luther King Jr. Day, the same is true with most credit unions. Credit unions which might possibly be open would be located in a retail outlet like a grocery store or Walmart.

For those who find themselves in a position of needing to do a bank transaction on January 19, in many cases it may still be possible. It’s still possible to do many basic banking transactions, even when local branches are closed, through the bank’s mobile app, their website, or at their automatic teller machines (ATMs). These options are available 24 hours a day, seven days a week, possibly making a visit to the bank unnecessary.

When you do use alternatives to going to a bank branch, remember the transactions may not go through as quickly as if you talked with a teller. The transactions may not begin to process until the next business day when the bank opens. This could prove to be important if you need money right away, but must wait for a check to clear.

Are Banks and Credit Unions Open Martin Luther King Jr. Day Weekend?

Most banks and credit unions are open Saturday, but will be closed Sunday on Martin Luther King Jr. Day Weekend. If you bank branch is usually open on Saturdays, then it should be open for its regular Saturday hours on January 17. Most banks are closed on Sunday, but there are a few which remain open. Those which are the exception will be open, but most will be closed on Sunday, January 18.

(Photo courtesy of In Sappho We Trust)