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Are Banks Open on Martin Luther King Day?

Are Banks Open on Martin Luther King Day

WASHINGTON D.C. (LALATE) – Are banks open today Martin Luther King Day? Are banks, credit unions, lenders, and similar financial institutions open today Monday January 17, 2011 on Martin Luther King Day?

The answer is no.

Federally approved bank holidays do include Martin Luther King Day. The next two federal holidays this year are Martin Luther King Day (January 17) and Washington’s Birthday (February 21).

Federal law (5 U.S.C. 6103) establishes public holidays for Federal employees. However “when a holiday falls on a nonworkday — Saturday or Sunday — the holiday usually is observed on Monday (if the holiday falls on Sunday) or Friday (if the holiday falls on Saturday).”

In the case of your local bank, credit union or lender, expect branches to be closed today. Offices will reopen tomorrow, Tuesday.

Each year, the OPM (U.S. Office of Personnel Management) issues that year’s schedule for recognized Federal holidays. This year they include Martin Luther King Day and Washington’s Birthday in the spring. After that, federal holidays will include Memorial Day (May 30), and Independence Day (July 4).

In the fall, federal holidays will include Labor Day (September 5), Columbus Day (October 10), and Veterans Day (November 11). In the winter, add Thanksgiving Day (November 24) and Christmas Day (December 26).

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