As part of its rapid expansion, Hagemach Hamerkazi is soon to
open its first US branch. Scheduled to open in Lakewood the
new branch will provide service for chareidim throughout the
US under the management of Rabbi Shlomo Korlansky, who
recently made a round of visits accompanied by Rabbi Moshe
Montag, director of Hagemach Hamerkazi, to the homes of
gedolei Yisroel shlita to request their blessings.
Five years after its founding gemach managers say
7,000 families from all parts of Eretz Yisroel have joined,
contributing enough money to buy 50,000 housing units, which
will make it easier to purchase apartments when the time
comes to marry off their children.
The idea behind the gemach, which was founded by HaRav
Gavriel Yosef Levy, rosh yeshiva of Yeshivas Be'er HaTorah,
is already well-known: Each member can donate $1,200 for each
housing unit per child (120 payments of $10 per month) and
when their children are set to wed the couple will receive
loan privileges in accordance with the number of units they
donated.
With thousands of new members the directors of Hagemach
Hamerkazi have decided to increase the number of units that
may be donated and to receive in the future up to four units
per child, which entitles the donors' children to a loan of
$40,000. If both sets of parents belong to the gemach
they may be entitled to a loan of as much as $80,000 with 100
payments, as an alternative to taking out a mortgage loan.
The gemach has set a fixed exchange rate of four
shekels to the dollar, both at the time of the contribution
and the time the loan is made.
The gemach plan is widely known in chareidi circles.
Not only have a large number of units been donated, but many
families have also deposited sums of money into the
gemach, allowing them to release units for couples
getting married long before the date originally set for loan
eligibility.
With the gemach taking root and expanding in Eretz
Hakodesh the directors decided to take the project overseas.
Rabbi Shlomo Korlansky, a prominent chareidi activist in
Petach Tikva, has been appointed manager of the US branch.
General Director Rabbi Moshe Montag says the US branch is set
to open following numerous requests from chareidi Jews in
various US communities. The goal of the branch is to allow
Jews in the US to join the gemach in Eretz Yisroel,
and to serve US residents as well. But since home purchasing
differs in the US, donating the units in the US will entitle
American donors to a sum of money to cover wedding expenses
or to donate the units to family members living in Eretz
Yisroel and to make deposits.
