When President Joe Biden signed a bill Thursday making Juneteenth a federal holiday, JPMorgan Chase, Bank of America, Fifth Third and other major banks were quick to announce their branches would close on June 19 — beginning next year.
That means it’s business as usual at most Chicago-area banks this weekend.
But Minneapolis-based U.S. Bank, which has 129 branches in the Chicago area, is getting a head start by closing all of its locations Saturday.
“Despite the painful origins of the holiday, its significance and what we as a nation stopped by ending legal slavery should be owned and celebrated by all,” Greg Cunningham, U.S. Bank’s chief diversity officer, said in a blog post Thursday.
BMO Harris also announced it will be closing all of its branches Saturday in observance of Juneteenth. Canadian banking giant BMO Financial Group, which acquired Chicago-based Harris Bank in 1984, has nearly 200 branches in Chicago and the suburbs.
Juneteenth commemorates June 19, 1865, when Union troops arrived in Galveston, Texas, to deliver the message that the Civil War was over and the last remaining slaves were freed. Approved by Congress and signed into law this week, Friday became the first official Juneteenth federal holiday, since this year’s date falls on a Saturday.
The short window has led to a hodgepodge of observances, with mail delivery continuing uninterrupted, but most federal employees getting the day off Friday.
Banks, which generally close on federal holidays, are for the most part deferring official observances until 2022.
Fifth Third Bank will be open Friday and Saturday, but expects to close for Juneteenth holidays beginning next year, bank spokesman Larry Magnesen said.
“This year, because it fell on a Saturday, which is a shortened day anyway, we did not close,” bank spokesman Larry Magnesen said. “But obviously there were a lot of late-breaking developments.”
JPMorgan Chase CEO Jamie Dimon issued a memo Thursday saying the bank would recognize the Juneteenth federal holiday by giving all employees a floating day off to take between July and December. In June 2022, Juneteenth will move into the bank’s regular holiday schedule, Dimon said.
The year, Chase branches will be open as usual on Friday and Saturday.
Bank of America plans to remain open for business during Juneteenth this year but close starting next year. It is offering employees an additional day off to be used as a paid floating holiday before June 18, 2022, bank spokeswoman Diane Wagner said.
Wells Fargo branches will also close for the holiday starting next year, with the bank adding Juneteenth as a “personal holiday” for employees this year, spokeswoman Tymika Morrison said.
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