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Economic Impact Payments

As most of you know, a number of Americans are now eligible for Economic Impact Payments (EIPs) as part of Covid19/Coronavirus tax relief efforts.  The Internal Revenue Service issued 75 million EIPs by direct deposit to qualified Americans and those funds will be begin to be available in accounts on April 15th.  Additional electronic payments will be released throughout April.

Please note that these payments are based on 2018 and 2019 tax filings.  Individuals who did not file electronic tax returns for 2018 or 2019 filings will not receive direct deposit payments.  Instead these qualified individuals will receive payment by check in the mail in the coming weeks.  There is no specific time that has been provided yet as to when paper checks will arrive.* Please note the important highlights of the EIP below:

  • For most qualified individuals, EI Payments will be available on April 15th
  • Those who receive a payment on April 15th is based on whether the individual filed for electronic returns in their 2018 and 2019 tax returns
  • If the IRS does not have accurate electronic payment information, the qualified individual will receive a paper check; there is no set mailing date of these but it will be several weeks later
  • If you have not filed 2018-2019 taxes, you can use the IRS portal to designate a direct deposit account click here.
  • Garden Savings has no other information on your deposit beyond the amount deposited & date
  • If you need to register, regularly visit the IRS website for details and to set up an online portal (this option was not available yet as of press time but should be soon)
  • You will need your Garden Savings account number and Garden Savings’ routing #221278954
  • Many questions related to Electronic Impact Payments will be very specific and need to be handled by experts.  We ask all members to visit with their details and questions
  • Be aware of scam checks and potential fraud. If you are suspicious of fraud, please contact Garden Savings at 973-576-2000 immediately.  Solicitous emails requesting your information are usually a tell-tale sign of a fraud attempt

*Please note that due to potential fraud, we may place a hold of up to seven days on government checks deposited to the credit union both in-person and via Remote Check Deposit. 


When emotions run high, scammers come out in full force. Make sure you are protecting yourself!

It's important to be aware that there unfortunately remain individuals who look to take advantage of people at their weakest. Yes, fraudsters do not take time off during a time of trouble. In fact, they look to prey on people at these moments when emotions are running high.Here are some tips and known scams to help protect you and your loved ones:

Hang up on robocalls. Don’t press any numbers. Scammers are using illegal robocalls to pitch everything from scam Coronavirus treatments to work-at-home schemes. The recording might say that pressing a number will let you speak to a live operator or remove you from their call list, but it might lead to more robocalls, instead.

  • Ignore online offers for vaccinations and home test kits. Scammers are trying to get you to buy products that aren’t proven to treat or prevent the Coronavirus disease 2019 (COVID-19) — online or in stores. At this time, there also are no FDA-authorized home test kits for the Coronavirus.

  • Avoid opening unrecognized emails or email links of any kind, if it is from an unrecognized sender.

  • Do not provide personal or financial information of any kind to an incoming requestor, even if the communication looks legitimate. Look up the requestor’s contact information, and reach out to validate the request.

  • The CDC would never ask for personal information, do not provide it! Fraudsters posing as the CDC Health Alert Network to steal personal information.

  • Know who you’re buying from. Online sellers may claim to have in-demand products, like cleaning, household, and health and medical supplies when, in fact, they don’t.

  • Do your homework when it comes to donations, whether through charities or crowdfunding sites. Don’t let anyone rush you into making a donation. If someone wants donations in cash, by gift card, or by wiring money, don’t do it.

  • A New York credit union is sounding warnings about a scam where members receive phone calls and text messages that appear to be from the credit union asking for personal and online banking information. DO NOT REPLY to messages like this. You should alert us to their existence without acknowledging these forms of contact in any way.

  • A Boston bank is reporting that fraudulent emails have surfaced claiming to be from the Center of Disease Control and Prevention (CDC) and the World Health Organization (WHO), directing unsuspecting recipients to harmful websites that load malware or other harmful applications under the ruse of offering important pandemic information. Again, delete these immediately and do not reply.

Guard your information and stay safe during this troublesome time. To err on the side of caution, if it looks suspicious, it probably is. Garden Savings would never reach out to you for data asking you for your personal information. We take your information and the safeguarding of it very seriously.

To stay up-to-date on all Coronavirus Scams and what is being done about them, visit the FTC website.