Are Banks and Credit Unions Open on Labor Day 2017?

With the end of summer and children going back to school, Labor Day is usually a busy time of year.  Labor Day is simply celebrated on the first Monday in September each year. Having the knowledge of which businesses will be open and which are closed will make your life a bit easier.

Because Labor Day is a Federal holiday, all nonessential government offices will be closed. There are a few exceptions to this, such as national parks, which will remain open, but the majority of government offices will be closed for the day. Does that include banks and credit unions? As the holiday gets closer many people are wondering if banks and credit unions will be open on Monday, September 4, 2017.

Banks

Are banks open on Labor Day? No, banks are closed on Labor Day. Most banks are typically open on Mondays. In fact, it is usually a busy day for most banks because they have been closed for two days over the weekend. However, most banks observe Federal holidays. Because of this the majority of banks will be closed on Labor Day. There may be a few exceptions to this but most branches will be closed on Monday. If your bank is located in a retail outlet they may be open but you will want to call and confirm their hours.

TD Bank is one of the larger banks that is known to be open on Federal holidays, however, Labor Day is not one of the holidays in which their doors will remain open. Their branches will be open on Sunday, September 3 for their regular Sunday hours. Also, check out Chase Bank Hours and Holiday Schedule.

Credit Unions

Are credit unions open on Labor Day? No, credit unions are closed on Labor Day. Credit unions are typically open on Mondays, just like banks. However, they observe Federal holidays as well. Some local credit union branches may be open or have limited hours on Monday but most of them will be closed for the day.

Although banks and credit unions will be closed on Monday, September 4 in observance of Labor Day, you can still do most of your banking through the ATM or the bank’s website. These two services are always available for members of the bank or credit union. You can perform most basic banking functions using both. That being said, it should be noted that any transactions made by either of these methods may not be completed until the next business day. A good example of this would be depositing a check. If you deposit a check on a holiday, like Labor Day, the funds may not begin to be processed until the next business day, meaning they may not be available for withdrawal right away.

With the holiday landing on a Monday, and most banking institutions also closed on Sunday (there are a few exceptions), those who are in need of getting to the bank need to plan ahead a little, or wait until Tuesday, September 5 when they will revert back to their normal business hours.

Photo: Flickr: CAMH Foundation