Martin Luther King Jr. Day is on Monday, and it’s a federal holiday. That means public schools, the stock market, the post office, and other government services are closed down.
The vast majority of banks are also be closed on the holiday, including the big ones like Wells Fargo, Chase Bank, Citibank, Bank of America, and others.
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.
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.
The US has 10 federal holidays throughout the year. Martin Luther King Jr. Day is one of them, meaning businesses can decide whether or not to be open or closed.
However, most big chain stores are open on the day, including Walmart and Target. Costco is also open on the day.