How Federal Holidays Affect Direct Deposit

Federal holidays, also known as bank holidays, may affect your financial institution's hours of operations and when your paycheck is deposited into your account. If a federal holiday falls on a Saturday, it is observed the previous Friday. If the holiday falls on a Sunday, it is observed the following Monday.

We've gathered a few key pieces of information to help you understand the impact federal holidays may have on your finances and how to plan accordingly.

Federal holidays in 2022:

South Carolina Federal is closed for the remaining 2022 holidays.

  • Thanksgiving Day - Thursday, November 24
  • Christmas Day (observed) - Monday, December 26

Federal holidays in 2023:

South Carolina Federal is closed for all Federal holidays in 2023.

  • New Year’s Day - Monday, January 2
  • Martin Luther King, Jr. Day - Monday, January 16
  • President's Day - Monday, February 20
  • Memorial Day - Monday, May 29
  • Juneteenth - Monday, June 19
  • Independence Day - Tuesday, July 4
  • Labor Day - Monday, September 4
  • Columbus Day - Monday, October 9
  • Veterans Day - Friday, November 10
  • Thanksgiving Day - Thursday, November 23
  • Christmas Day - Monday, December 25

How federal holidays may affect your transactions:

  • Automatic Clearing House (ACH) Services: ACH transactions are the easiest way to send and receive payments, such as payroll, taxes, or direct deposit. ACH transactions are quick and secure while eliminating a trip to a financial center. Your money could be stuck processing if it is deposited into your account on a federal holiday, and would only be available the following business day.
  • Wire transfers: A wire transfer is another way to electronically send and receive money between financial institutions. They are commonly used during the homebuying process. A wire transfer sent or received on a federal holiday would not be processed until the next business day, so funds will take longer to reach your account.
  • Mobile check deposits: You can deposit a check using our Mobile Banking1 app 24/7. However, funds from checks deposited via the app on a federal holiday won't be available for until the following business day. Don't forget that you can check the status of your checks deposited through the app at any time – just log into the app, select "deposit" from the options on the bottom banner, click on "view mobile deposit history," and see the status of all your deposits within the last 30 days.
  • External transfers: Any transfers between different financial institutions initiated on a federal holiday will likely be processed the following business day.
  • Internal transfers: Transferring funds from one account to another within the same financial institution will process as normal on federal holidays. For example, if you transfer money from your savings to your checking, the transfer will happen automatically even if your financial institution is closed.

How to prepare for a federal holiday:

  • Mark the days that your financial institution is closed in your calendar so you don't forget to plan ahead. To be extra careful, you can also set reminders in your phone for the last business day before a federal holiday.
  • Remember that while some holidays occur on the same date each year – Independence Day is always on July 4, for example – some federal holidays fall on different dates each year, such as Thanksgiving.
  • Enroll in Online2 and Mobile Banking. If you aren't enrolled in Online and Mobile Banking yet, you should consider it. These tools help you maintain access to your account even when we're closed. Enrolling in Online Banking is easy and takes just a few minutes – get started here.
  • Schedule bill payments through Online and Mobile Banking to avoid the risk of a late payment when financial centers are closed. To learn more about Bill Pay, click here.
  • Sign up for mobile alerts through our Mobile Banking app. Stay up-to-date on your account with automatic balance checks, low balance warnings and more.

How to maintain access to your account:

  • Thanksgiving hours:
    • Our financial center lobbies are open regular business hours on Wednesday, November 23 and Friday, November 25 from 9 a.m. to 5 p.m.
    • The contact center is open regular business hours on Wednesday, November 23 and Friday, November 25 from 8 a.m. to 6 p.m. Give us a call at 800-845-0432.
  • Christmas hours:
    • Our financial centers and contact center are open regular business hours on Friday, December 23.
  • You have 24/7 access to your account via Online and Mobile Banking. Visit to log into your account, or click here to learn how to enroll.
  • South Carolina Federal ATMs3 are available to withdraw cash, deposit funds, transfer funds, or check account balances. To locate the one nearest you, click here. As a member, you also have access to fee-free cash withdrawals. To locate one nearest you, click here and select "Allpoint Fee-Free ATMS."

We hope these tips help you stay connected to your accounts regardless of the federal holiday schedule. We look forward to serving you soon!

  1. All of our Mobile Banking products require an Online Banking login, a data plan with a wireless provider, and in some cases, enrollment into Bill Pay. South Carolina Federal Credit Union provides Mobile Banking as a free service. Consult your provider for any fees associated with your mobile web service.
  2. Terms and conditions are available through Online Banking and must be agreed to before using service.
  3. Foreign ATM usage fees may still apply.

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