Is PenFed Credit Union open on New Year’s Eve? Yes, PenFed Credit Union is open on New Year’s Eve.
Since New Year’s Eve is not a federal holiday, PenFed Credit Union will be open. However, typically the hours will vary.
While on New Year’s Eve, PenFed Credit Union is open, on New Year’s Day, PenFed Credit Union locations will be closed.
If New Year’s Day falls on a weekend, then New Year’s Day will be observed either on the following Monday.
To learn more about the hours and locations of PenFed Credit Union, you can visit their website here: https://www.penfed.org/.
Why Banks and Credit Unions are Closed on Federal Holidays
Throughout the year, there are 11 federal holidays and, on these holidays, banks and credit unions are closed.
This is because the Federal Reserve is closed. The Federal Reserve helps banks and credit unions perform various services such as ACH transactions and wire transfers.
Since the Federal Reserve is closed because it is a government entity, these financial institutions cannot perform their services and are closed as well.
However, New Year’s Eve is not a federal holiday, PenFed Credit Union will be open. However, hours might be shorter than usual.
Which Days are Federal Holidays in the United States?
Below are a list of all of the federal holidays observed in the United States:
- New Year’s Day
- Martin Luther King Day
- President’s Day
- Memorial Day
- 4th of July
- Labor Day
- Columbus Day
- Veterans Day
- Christmas Day
As mentioned above, on these federal holidays, banks, credit unions and government entities will be closed.
Again, since New Year’s Eve is not a federal holiday, PenFed Credit Union will be open. However, the closing time might be earlier than usual.
Hopefully this article has been helpful to you to learn about if PenFed Credit Union is closed or open on New Year’s Eve.