As the High Holidays near, so too does the annual Israel Bonds High Holy Day Appeal. The appeal, to be conducted on Yom Kippur at every synagogue in the metro-Milwaukee area and some in other parts of the state, is more than just a way to show much-needed support for Israel — it is also a way to build one’s investment portfolio.
“When you buy a bond you are really investing in Israel,” said Joseph Chudnow, High Holy Days campaign co-chairman for the Development Corporation for Israel/Israel Bonds in Wisconsin. “Every bond, no matter how large or how small, is important.”
Buying Israel Bonds this year is particularly important because of the current Palestinian violence against Israel, which has taken its toll on the economy, particularly Israel’s tourism industry. The bursting of the lauded dot-com bubble has also affected Israel’s high-technology sector.
“The current situation in Israel says it all,” according to Bonnie Malofsky Jacobson, executive director of the local Israel Bonds office. “In times of peace (if there’s been any such time) and in times of conflict, Israel Bonds is always there — the funds are always needed, the funds are helping to build the country.”
“The goal this year as set by the bonds office is $12 million” for Wisconsin, said Chudnow. “We are at $11 million” and $1 million more is the target for the High Holy Day Appeal.
The Israeli government has set a 2001 goal of $1 billion in bonds sales worldwide.
State of Israel Bonds has been instrumental in developing Israel into the modern country it is today. Through the sale of $25 billion in securities since 1951, the bonds have helped to build deep-water ports in Haifa and Ashdod; a desalination plant in Eilat; an industrial park in Karmiel and a satellite ground station near Beit Shemesh.
Further, bonds purchases have helped to construct the national water carrier, which has transported water from the Kinneret in the north to the Negev Desert in the south since 1955. The Tel Aviv-Jerusalem Highway, which anybody visiting Israel has most likely traveled, also was constructed with help of Israel Bonds.
But as Howard Loeb, a real-estate broker for Shorewest Realtors and co-chair for the High Holy Days campaign, pointed out, buying bonds “is not tzedakah.” They are “very good investments” that he has been buying since 1984, he said.
According to a State of Israel Bonds fact sheet, “Israel Bonds are currently rated “investment grade” by both Moody’s (“A2”) and Standard and Poor’s (“A-”).
In addition, “State of Israel Bonds is an inexpensive way for Israel to borrow money. It is more efficient than sales through a brokerage, [and bonds] are a stable investment in today’s turbulent financial markets,” the fact sheet continues.
William Bodner, owner of Bodner Property Management LLC, is a past chairman of the New Leadership Division for State of Israel Bonds and a member of the campaign cabinet.
“What I have always liked about bonds is that it is an investment for the people that buy the bonds, but also an investment in the State of Israel,” he said. “It is a double benefit.”
Rosalie Neufeld, also a campaign worker, said, “I grew up going to Congregation Agudas Achim [now Agudas Achim Chabad] and [it was] known for selling more bonds than any group in the city.”
“My uncle was very involved, and I know that he and my father purchased bonds so, [I am] taking over where they left off…. I buy them for my children and my grandson and I think they are wonderful.”
Chudnow said the Milwaukee Jewish community should be proud of the fact that “for the size of our community we do a great job [in purchasing bonds]. In proportion to our size, we are one of the top bonds purchasers.”
Chudnow believes that purchasing State of Israel Bonds is helpful to diaspora Jews in more ways than earning a hefty return.
“All Jews share responsibility for the future of the Jewish people,” he said. “By purchasing these bonds, you are assuming that responsibility…. Every Jew should buy bonds.”
Chudnow added that “Israel lights up the whole world through its achievements. By buying bonds we can brighten the future of your Israel and my Israel.”
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