Bank Lecredit Gomleen was founded in 1926 as a bank based on a cooperative society, which helped its middle class members with loans for construction and trade. The bank was affiliated with the Supervision Alliance (Brit Pikuach) of the Credit Cooperative in the Land of Israel. In 1941, the word “bank” was struck from the entity’s name, and it became a cooperative society. The certificate, from 1932, is a bond, part of an issue of 33,000 PP 1-bonds, for a period of twelve years.
The certificate says the following: “The bank pledges to these payments the collaterals listed on the back of this paper.” However, when reading the back it appears that no collaterals have been pledged, besides the paper itself. The certificate is signed by Chaim Dunevitz (1888-1958), who served as the bank’s manager while serving as a board member of Bank Zerubabel and coordinator of the Supervision Alliance of the Credit Cooperative in the Land of Israel.
(From Barlev collection of Securities Certificates)
