I ISRAEL An offering circular on Form OC relating to these securities has been filed with the Office of Thrift Supervision but has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time the offering circular on From OC becomes effective. This an- nouncement shall not constitute an offer to sell or the solicitation of an offer to buy nor shall therre be any sale of these securities in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any state. June, 1991 Proposed New Issue — 650,000 shares Soviet Jews Find Socialism Not All Bad FRANKLIN SAVINGS BANK Series A Noncumulative Convertible Preferred Stock. Israel's housing shortage has prompted some newly arrived Russians to check out kibbutz life. 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(Between 5 St 6 Mile Rd.) 313-644-2175 la Welcome MEDICAL VILLAGE 313-525-3900 Offer good thru June 24, 1991 30 day Trial . Advertising in The Jewish News Gets Results Place Your Ad Today. Call 354 6060 - 44 FRIDAY, JUNE 21, 1991 Special to The Jewish News I To receive a prospectus, I off any ,hearing aid purchased INA FRIEDMAN srael's housing shortage has brought together two seemingly, odd bedfellows — Soviet Jews who have fled socialism and this nation's socialist-oriented kibbutzim. For a while, Israeli con- ventional wisdom held that the Soviets would shun anything that even remotely smacked of socialism. Yet the newcomers' experience on the kibbutzim seem to be consistently positive. Some 1,300 people have passed through what has been billed as the "First Home in the Homeland" program since its inception two years ago, and as news of its advantages spreads, it is becoming increasingly popular. Today, some 50 Soviet families have even decided to settle permanently in kibbutzim. Perhaps one reason for the program's success is the in- itial formality of the rela- tionship between the immi- grants and the kibbutz. The two sides sign a contract whereby, in return for the payment of some 70 percent of their first six-months government allowance ($520 a month for a family of four), the immigrants receive room, board, medical coverage, and schooling for their children. They study Hebrew out- side the kibbutz, and they are not expected to work — although if they choose to, and work is available, they can trade their hours in return for a "rent" discount. "In this sense the kibbutz functions like an absorption center," explained one member of the northern Negev settlement of Kibbutz Hatzerim, which has hosted 14 families and a number of singles over the past six months. Even though the kibbutz movement has suffered a se- vere loss of members in re- cent years, "our aim is to do our part for immigrant ab- sorption, not to recruit new members," he said, express- ing an attitude that has Ina Friedman is a reporter in Jerusalem. probably made it easier for immigrants to opt for the program. None of the 48 people who have stayed at Kibbutz Hatzerim has expressed in- terest in joining the kibbutz. That may also be due to their personal and profes- sional particulars: at le ast half of them are doctors (the rest being other profes- sionals), from their mid-30s to their late-50s, and thus hardly prime candidates for kibbutz life. Yet no one can fault the reception they received or the merits of starting their new lives in such surroun- dings. " Hatzerim is absolutely paradise," said Luba Bendersky, a "40ish" neu- rologist from Tashkent who has been on the kibbutz for six months and is still awed by the beauty of this man- made "oasis," with its palm, pine, and eucalyptus trees laced with purple bougain- _ Some 1,300 Soviet Jews have passed through the "First Home in the Homeland" program over the past two years. villea and gardens fronting every apartment. Luba and her husband, Oleg, a university lecturer in mathematics, knew close to nothing about kibbutz life and imagined it in rather grim terms. "It's practically a miracle we came," she reflected. "We didn't particularly want to. But we had lost all our luggage in transit (and only recovered it three mon- ths later). So we were in a desperate state, and it seem- ed the best solution." Kibbutzniks immediately supplied the Benderskys with everything they need- ed, from clothes to dishes for their standard kitchenette (though for the most part they eat in the communal dining room with everyone else). And the reaching-out did not stop there. "These people have treated our problems as if they were their own," Mrs.