Memorial Day is coming up, and you've probably already planned out your list of Memorial Day activities to help you commemorate the day and honor our country's fallen soldiers. But your list of things to do may also include picking up a few things at stores that are open on Memorial Day, serving up some delicious Memorial Day recipes, or stopping by a bank. Which means you may be left wondering whether or not banks are actually open on May 31.
According to Banks.org, almost all of the major banks across America will be closed in observance of the federal holiday which falls on the last Monday of May each year. However, that doesn't mean that you won't be able to have quick access to your cash if you need it. Though you likely won't be able to walk into your local branch to withdraw or deposit any cash or checks on May 31, you will still be able to do so by heading to the ATM or using your bank's mobile app. If you are making a deposit using the ATM though, just be sure to remember that you won't have access to those funds until the transaction is posted on the next business day.
Curious what else is closed on Memorial Day, as well as what other bank holidays are happening in 2021? Here's a little info to help you plan ahead.
Are credit unions open on Memorial Day?
Credit union members, unfortunately, are also out of luck because just like banks, most credit unions will be closed on Memorial Day, too. Delta Community Credit Union, for example, has the holiday noted as one of the 10 bank holidays observed by its branches for 2021. For the future, if you're ever not sure what holidays your local credit union is closed on, keep in mind that that they — like your bank — are typically closed on all federal holidays.
Are stock markets open on Memorial Day?
If your usual Monday morning routine includes checking in our your stocks, you should know that stock markets will also be closed on Memorial Day. Both NASDAQ and the New York Stock Exchange have the day listed as one of their holidays for 2021.
What other bank holidays I should know about this year?
According to the Federal Reserve System, the below dates are recognized as bank holidays for the remainder of 2021:
- July 4: Independence Day (falls on a Sunday; observed on Monday, July 5)
- September 6: Labor Day
- October 11: Columbus Day
- November 11: Veterans Day
- November 25: Thanksgiving Day
- December 25: Christmas Day
Ni'Kesia Pannell is an entrepreneur, multi-hyphenate freelance writer, and self-proclaimed Slurpee connoisseur that covers news and culture for The Kitchn. She's the former Weekend Editor for Delish who also writes about faith, health and wellness, travel, beauty, lifestyle, and music for a range of additional outlets.
