In the wake of growing awareness of racial equality and justice issues, a number of the largest banks in the country are closing for all or part of Friday in recognition of Juneteenth.
“The events of the past few weeks have changed the conversation and added a sense of urgency that has motivated more people across the globe to act to address social injustice. That begins with acknowledging our rich and diverse history,” U.S. Bank, chairman, president and CEO Andy Cecere said in a release, announcing that all its offices and branches would close at 1 p.m. local time Friday. “We are encouraging our employees to use this time to serve in our communities, commit to inclusion and advocacy, or simply educate themselves on this very important topic.”
Juneteenth marks the day in 1865 in which Union soldiers, led by Major General Gordon Granger, arrived in Galveston, Texas, with news that the Civil War ended, and that formerly slaved persons now were free.
According to the Juneteenth.com website, Granger read from an order to the people of Texas, which began, “The people of Texas are informed that in accordance with a proclamation from the executive of the United States, all slaves are free. This involves an absolute equality of rights and rights of property between former masters and slaves, and the connection heretofore existing between them becomes that between employer and hired laborer.”
Texas passed a bill Jan. 1, 1980, declaring Juneteenth an official stated holiday, called Emancipation Day in Texas.
U.S. Bank is among many institutions around the country which will be recognizing the day. That includes Bank of America, BBVA, Berkshire Bank, BMO Harris Bank, Capital One Financial, Comerica, Fifth Third Bank, JPMorgan Chase, PNC Bank, Santander and Truist.
Bank of America
In a memo to employees, Bloomberg reported, Bank of America said staff could take Juneteenth as a personal day. It also increased the number of occasional illness days which could be used as personal days from two to five, to be used before Dec. 31, in addition to vacation days or paid time off.
“We celebrate Juneteenth as an important anniversary and milestone in the long, continued journey to racial equality in this country,” Bank of America CEO Brian Moynihan wrote in a message on the company’s intranet. “Our teammates will be encouraged and empowered to learn more about the history and meaning of the day, connect with each other and honor the anniversary at home and at work.”
BBVA
BBVA USA announced it would close all offices at 1 p.m. local time Friday.
“BBVA stands in solidarity with our black employees, customers, and communities, recognizing that this is a time for us to listen to all the needs of those who are experiencing oppression,” BBVA USA President and CEO Javier Rodriguez Soler said in a release. “We will close our doors to contemplate the significance of this day and cultivate a deeper understanding of how we can make a difference and stand against systemic racism and social injustice.
“We are committed to doing everything we can to support the fight for equity and social justice at every level. Our observance of Juneteenth is a reminder of that commitment, for ourselves and for the communities we serve.”
Berkshire Bank
Berkshire Hills Bancorp announced that its branches would be closed at 2 p.m. local time Friday, and employees would receive a paid floating holiday for working the shortened day.
CEO Richard Marotta issued a lengthy statement on the company’s support of racial justice and equality, as well as the Black Lives Matter movement.
“As a member of an industry with a deep-rooted legacy in the systemic oppression of the black community, we wanted to take this time to focus on reflecting over our role as a community bank, making space internally for our employees to unpack these issues, and building some additional thoughtful and effective efforts towards dismantling systemic racism and changing banking for all,” Marotta began. “Several weeks ago, we started to build on our prior work internally by addressing the unjust murders of George Floyd, Ahmaud Arbery, Breonna Taylor, and so many more as a result of police brutality. Additionally, we also addressed the extreme racial profiling of Christian Cooper and other all too common forms of oppression directly impacting the black community in our world – a world historically reliant upon systemic racism and white supremacy.
“It’s just not enough to make public statements or to invest in communities during moments of acute crisis – we must invest in them continuously to help support their growth,” Marotta added, cited a number of projects in which Berkshire Bank has started or participated in over more than year.
“While we’ve implemented initiatives and programs to help address some of the prevalent outcomes of systemic racism that plague our country, we know that we are not perfect and there is much more work to be done,” Marotta wrote. “Berkshire Bank is committed to implementing additional efforts as we continue to listen, learn and take further action, both internally and in our communities. First, it starts with us. We are committed to creating safe spaces and providing our Berkshire Bank community with opportunities for learning, unpacking and openly talking about these issues. Shortly after current events, our People of Color/Multicultural Employee Resource Group hosted a bank-wide conversation facilitated by our consultants and launched a virtual safe space. As a follow up, we are hosting a Coffee Talk that will cover safe spaces and what freedom can look like at work and are holding a Creating Safe & Inclusive Spaces for Employees training for our managers.
“Second, the work continues with our community,” he wrote, citing two recent virtual town halls the company hosted. “Finally, the work can only be impactful through continued education on systemic racism and inequality prevalent throughout history. Berkshire Bank is dedicating June 19th, also known as Juneteenth – the oldest national commemoration of the ending of slavery in the United States, as a day for intentional learning, reflection and a holiday.
“Black lives matter. Until we all live in a world that honestly addresses systemic oppression and institutionalized racism, then we all will continue living in a world lacking basic humanity. In the words of Martin Luther King Jr. ‘We must learn to live together as brothers or perish together as fools.’ These are grave issues that impact us all and will not end without doing the necessary work, both as a company and as individuals. We will do our part here at Berkshire Bank to support communities that shouldn’t have to do this work alone and help to create a more equitable future for all.”
BMO Harris Bank
On its website, BMO Harris Bank announced, “To honor Juneteenth, and give our teams time to reflect, our U.S. branches will close and our Customer Contact Center will move to limited staffing at noon on Friday, June 19.”
Capital One
Capital One Financial said the company would its offices at 2 p.m. local time Friday.
Comerica
Comerica Bank announced it would close its offices, call center and banking centers across its footprint at 2 p.m. local time Friday.
“We understand that we can and should do more to eliminate racial injustices,” Comerica Incorporated and Comerica Bank Chairman and CEO Curt Farmer said in a release. “Now is a time to pause and listen as we observe the 155th anniversary of Juneteenth, honoring this significant moment in history and forge a path forward to establish equality and inclusion in our communities. Through dialogue and reflection, we can gain an understanding of how we can do our part in making a difference.”
Fifth Third
Fifth Third Bank announced it would close its offices at 2 p.m. local time Friday across its footprint, and in a release, it “respectfully requests that customers plan their banking center transactions accordingly.”
“As we consider the tremendous significance of this day and what it represents, it also reminds us of how far we still must go to have equality and inclusion for all,” Chairman, President and CEO Greg D. Carmichael said in the release. “As we observe Juneteenth, each of us should pause, reflect, and contemplate its significance and what it meant 155 years ago, what it means today, and how we might take action to make tomorrow better for everyone. While it is only one small step toward a more racially just and equitable organization and community, we believe it is a step in the right direction.”
Speaking to Fifth Third employees, Carmichael stated, “We are on this journey together, and we can individually and collectively be a part of the positive change our country so desperately needs. Together, we are committed to being a part of this change.”
JPMorgan Chase
JPMorgan Chase will close its U.S. Chase retail branches early Friday in observation of Juneteenth, CNBC reported, according to an email to colleagues from CEO Jamie Dimon.
“Out of deep respect for the suffering that the black community has endured over hundreds of years and in recognition of the high esteem in which we hold our black community at JPMorgan Chase, we are closing all Chase branches at 1 p.m. on Friday, June 19 — known as Juneteenth,” Dimon said. “2020 has become a very unique moment in our history. While we must continue many core operations during this period, this early closure allows our branch employees — many of whom have been working on the front lines to support our customers and communities throughout the COVID-19 crisis — time to reflect, learn and participate in peaceful events in their communities.”
Hourly employees who leave early will be paid for the full day, the bank stated.
“I want to reiterate that JPMorgan Chase is dedicated to the principle that all people deserve fair and equal treatment and respect, both morally and under the law. We want all people, including the LGBT+ community, people with disabilities, veterans, the Hispanic, Muslim and Asian communities and anyone else disrespected by discriminatory policies and behavior — whether blatant or veiled, deliberate or unconscious — to have a chance to flourish in this great country,” Dimon said.
PNC Bank
PNC Financial Services Group, Inc. announced that it would close all offices at 2 p.m., local time Friday.
“If there is anything the past few weeks in our country have revealed, it’s that we all need to do a better job of listening and trying to understand experiences that may not be our own,” PNC Chairman, President and CEO William S. Demchak said in a release. “Juneteenth is a significant piece of our nation’s history. Our observance is an opportunity to bolster important dialogue about the past and collectively work toward shaping a better future.”
Santander
Santander US announced that it would close its offices and branches at noon Friday, in recognition of the oldest national commemoration of the end of slavery in the United States.
“This year, Juneteenth is especially moving as our nation wrestles with inequities and injustices that have persisted throughout its history, with renewed urgency,” Santander US CEO Tim Wennes said in a release. “So, on Friday, we will close our doors and operations early to mark this important day and to provide each of us with an opportunity to reflect on what role we will play in making our country, community and company places where equality and justice prevail.”
The release stated that Santander US employees were encouraged to take this time to listen to what black Americans are saying, to understand and appreciate what it must be like to suffer discrimination or injustice, to give time and/or financial support to organizations dedicated to bringing about real change, and to engage in meaningful conversations with friends, family and colleagues.
The early release is one of a number of actions Santander US is taking, the bank said, in partnership with its Black Employee Network (BEN), to redouble its commitment to racial equality and justice.
Truist
Truist Financial said it will close its offices at 2 p.m. local time Friday in observance of Juneteenth.