Treasurer ‘Very Proud’ of Pennsylvania Investing in Israel Bonds

Treasurer of the Commonwealth of Pennsylvania Stacy Garrity, the keynote speaker at the Development Corporation for Israel/Israel Bonds Philadelphia’s Legal & Financial Services Division Annual Tribute on Sept. 21 in Center City, emphasized the state’s longtime perspective that Israel bonds are strong and meaningful investments.

“I’m very proud of Pennsylvania’s long history of investing in Israel Bonds,” Garrity said. “For more than three decades, Pennsylvania Treasurers have seen why these bonds are such a great value, and I’m glad to continue this practice. Israel Bonds are strong investments that benefit Pennsylvania taxpayers and encourage economic growth in Israel, one of our nation’s great allies.”

Garrity addressed the Legal & Financial Services Division’s event for the second consecutive year.

“I was honored to speak with you last year, and I’m doubly honored to be invited back,” she stated. “I want to convey my strong belief that Israel Bonds are much more than an investment that benefits the hardworking Pennsylvania taxpayers I represent — purchasing these bonds is a reflection of the longstanding relationship between the United States and Israel, two close allies on the world stage. To me, it’s a tremendous win-win. Diversifying our portfolio with a strong investment while simultaneously supporting the Israeli economy is one of the best decisions we can make.”

At the event, Israel Bonds honored Jelena Batula, senior vice president and commercial real estate lender at Firstrust Bank, and Marina Kats, founding partner of Kats, Jamison & Associates.

Batula noted that Firstrust is the only bank in the region that participates in the Israel Bonds financing program. Through the program, investors can apply to a participating bank for a loan in the amount of their desired Israel bond denomination. Upon approval, the Israel bond is assigned to the bank as collateral. The State of Israel sends the interest directly to the bank. Investors pay the difference between the interest paid by Israel and the amount of interest due on the loan, usually a fixed amount for the duration of the loan. When the bond reaches maturity, the proceeds are paid to the bank and the investor’s payment obligations are complete.

“Israel bonds offer tremendous value to supporters of Israel because you’re not donating money,” Batula said. “You’re investing in yourself, and that investment in yourself is actually helping Israel grow. It’s a win-win all around.”

Kats, an immigrant from the former Soviet Union and the granddaughter of a woman whose three siblings vanished in Babi Yar, described that “it is especially important to me to support the State of Israel.”

“As long as Israel exists, there will always be a place for Jewish people from around the world to call home,” she said. “Tragedies such as the Holocaust and the denial of Jewish refugees fleeing Nazi persecution from entering the United States on the MS St. Louis will never happen again as long as Israel exists. Israel Bonds provides a lifeline that is necessary for Israel to continue to exist and flourish.”

The event was chaired by Bruce Goodman, Brad Korman, Alan Lindy, Marguerite Lenfest, and Mitchell Morgan. Other key organizers included Peter Friedman, chair of Israel Bonds Philadelphia’s Legal & Financial Services Division; Mitchell Benson, Adam Laver, and Phil Rosenfeldt, co-chairs of the Division; and Glenn Segal, Israel Bonds Philadelphia general campaign chair.

For 72 years, Israel Bonds has generated $49 billion worldwide, across all Bonds entities, in financial support for the building and development of every sector of Israel’s economy. Israel bonds are a smart investment, with strong rates, and are meaningful investments, serving as a symbolic connection with Israel and the people of Israel for Jews worldwide. For more information, visit www.israelbonds.com.