If you need to run to the bank or post office, it's a good idea to plan ahead and go before Monday.

Major banks and U.S. Postal Service offices will be closed on Monday, Jan. 15 in observance of Martin Luther King Jr. Day, a federal holiday that observes the birthday of the civil rights icon.

President Ronald Reagan signed the King Holiday Bill into law on Nov. 2, 1983, designating the third Monday in January a federal holiday in observance of civil rights leader Martin Luther King Jr.

It is the only federal holiday designated as a national day of service to encourage all Americans to volunteer and improve their communities, according to the National Museum of African American History and Culture.

Here's what you need to know about banks, post offices and shipping services, and whether they'll be open or closed on MLK Day 2024.

Learn more: Best current CD rates

2024 calendar dates:Easter, MLK Day, Thanksgiving and other key holiday dates to remember

Is the post office open on MLK Day? Will mail be delivered?

Postal Service facilities will be closed for retail transactions on Monday, Jan. 15, and there will be no residential or business deliveries, the U.S. Postal Service told USA TODAY.

Are banks open on MLK Day?

Branches of Wells Fargo, Bank of America, Truist, Citibank and Capital One, among others, will be closed on Jan. 15, the companies told USA TODAY.

All Capital One Café locations will remain open with normal business hours.

Is UPS open on MLK Day? Will packages be delivered?

UPS will not pick up or deliver packages on Monday, Jan. 15, and some UPS Store locations may have modified business hours, according to the company. Check with your local store for specific hours of operation.

UPS Express Critical is available 365 days a year. For more information, visit upsexpresscritical.com.

Is FedEx open on MLK Day? Will packages be delivered?

Most FedEx services will be available on Jan. 15 and FedEx office locations will be open, according to the company's website. Check with your local store for specific hours of operation.

Are Costco, Walmart and Target open on MLK Day?

Yes, Costco, Walmart and Target, as well as most major retailers and grocers, are open on the holiday.