Traditionally, U.S. banks and other financial institutions are closed on the ten federal holidays observed each year. While some leading factoring companies, such as Interstate Capital, may typically be open on selected holidays to better serve clients, the U.S. Federal Reserve will be closed and some transactions will be delayed by one business day.
2019 Bank Holidays
|January 1, Tuesday||New Year’s Day|
|January 21, Monday||Martin Luther King, Jr., Day|
|February 18, Monday||Presidents Day|
|May 27, Monday||Memorial Day|
|July 4, Thursday||Independence Day|
|September 2, Monday||Labor Day|
|October 14, Monday||Columbus Day|
|November 11, Monday||Veterans Day|
|November 28, Thursday||Thanksgiving Day|
|December 25, Wednesday||Christmas Day|
2020 Bank Holidays
|January 1, Wednesday||New Year’s Day|
|January 20, Monday||Martin Luther King, Jr., Day|
|February 17, Monday||Presidents Day|
|May 25, Monday||Memorial Day|
|July 3, Friday||Independence Day|
|September 7, Monday||Labor Day|
|October 12, Monday||Columbus Day|
|November 11, Wednesday||Veterans Day|
|November 26, Thursday||Thanksgiving Day|
|December 25, Friday||Christmas Day|
January: New Year’s Day
New Year’s Day is always a holiday that begins the night before on New Year’s Eve, traditionally a long night of revelry and fun before the clock hits midnight. Celebrating the end of the old year and the promise of the new, New Year’s Day is the world’s only international holiday. In the United States, it’s a day of relaxation, sleeping late, and football games.
January: Martin Luther King, Jr., Day
Celebrating the birth and life of one of the greatest civil rights leaders in American history, Martin Luther King., Jr., Day (MLK Day) takes place on the third Monday in January. A Baptist minister with a passion for justice, Dr. King helped end segregation, a time when facilities were divided by race and people of color were discriminated in nearly every way of life, from housing to work opportunities. MLK Day focuses on the continuing need for equality among people, as guaranteed by the U.S. Constitution and its Amendments.
February: Presidents Day
Two of the greatest presidents in U.S. history, President George Washington and President Abraham Lincoln, were both born in February and President’s Day was created to remember their accomplishments. As our first president and the top general in our country’s Revolutionary War, Washington set the standards for a democracy with ethics and honor in the country’s highest office. As president during the divisive Civil War, a long conflict that ended up claiming the country’s highest number of war fatalities, Lincoln stands out as the leader who re-united the states and freed millions of slaves.
May: Memorial Day
Memorial Day is a more somber holiday, founded after the Civil War to honor those who died in the service of their country and to set aside time to visit loved ones’ graves in cemeteries. Always held on the last Monday in May, the day also marks the unofficial start of summer and is typically marked with outdoor activities, from picnics and parades to cookouts and campfires.
July: Independence Day
The most patriotic day in the United States, the Fourth of July marks the anniversary of the nation’s founding in 1776 when the country’s founders signed the Declaration of Independence that launched the colonies’ revolution against their British leaders.
September: Labor Day
Labor Day, always the first Monday in September in the United States and Canada, honors the workers and the labor unions that protect them. Founded in 1894, the day also marks the traditional end of summer.
October: Columbus Day
The second Monday in October marks Columbus Day, a relatively minor holiday that is not celebrated in all states but the Federal Reserve closes each year in honor of the early explorer Christopher Columbus. The first Columbus Day was held in 1892 to mark the 400th anniversary of Columbus and his three ships landing in the Bahamas and it became an official federal holiday in 1937.
November: Veterans Day
This national holiday honors the military veterans who have served in the U.S. Army, Navy, Air Force, or Marines. The official date is November 11, recalling Armistice Day when World War I ended in Europe. However, the federal holiday takes place on the Monday closest to November 11. While Memorial Day honors those who have died serving the United States, Veterans Day celebrates the service of all military personnel, both past and present.
November: Thanksgiving Day
Since 1863, when President Abraham Lincoln declared that the fourth Thursday in November would be a day of thanksgiving, this holiday has been an important day for families throughout the United States. The day looks back to 1621, when a group of early settlers from England celebrated their harvest with their Native American neighbors. The first Thanksgiving parade took place in New York City in 1924, and with the exception of a three-year hiatus during World War II, has continued ever since. Canadians celebrate a day of thanksgiving on the second Monday in October.
December: Christmas Day
In the quiet of winter, Christmas Day marks the birth of Jesus Christ for Christians. People all over the world give gifts to their loved ones during this holiday of generosity and peace among people. It is the one day in the year when U.S. businesses of all types – not just financial institutions – close their doors to enable their employees to enjoy time with families and friends.
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