Ari Steinberg: Investing in Israel’s educators is investing in Israel’s future

Ashmoret CEO explains how the company harnesses its purchasing power and expanding range of services to improve educators’ lives and strengthen the country’s education system

“I believe that when we invest in education professionals, we are investing in the State of Israel and in our children. When a teacher is doing well, the class does well.” The source of this quotation is not an educator or school principal, but entrepreneur and business leader Ari Steinberg, CEO of Ashmoret, Israel’s largest credit card company for educators and members of the Israel Teachers Union.

Steinberg strongly believes that teachers hold the key to Israel’s success. “Ultimately,” he shares, “they are responsible for all of Israel’s development—its business, economic, and social development. They are the foundation that makes all of this possible, and we must invest in that foundation.”

Ashmoret invests in educators by offering its 300,000 cardholders – teachers, principals, inspectors, education students, and their families – a variety of significant benefits, including discounted prices on travel, entertainment, and vacation packages; dining, with vouchers for restaurants, cafés, and fast-food outlets; and shopping, with discounts at supermarkets, fashion retailers, electronics stores, and home-design chains. The club also supports teachers’ well-being through preferential insurance rates, favorable loan terms from several banks, professional-development funds, and legal and professional assistance. Ashmoret has annual credit card revenues of NIS 14 billion, says Steinberg, and puts it to good use for the benefit of teachers. “We leverage our collective purchasing power and channel it into programs that support teachers’ well-being.”

Steinberg describes Ashmoret’s newest initiative, “Ashmoret School,” an online purchasing platform for elementary and middle schools that lets them order supplies ranging from office supplies, teaching materials, and furniture to technology solutions, all at significant savings.

He shares that the savings generated by purchases from  Ashmoret School are reinvested in teachers. “Most of the benefit Ashmoret receives from those savings goes back into activities for teachers and teachers’ lounges. When you provide activities for a school and its teaching staff, from our perspective, that serves the goal of offering teachers meaningful personal benefits. It is a complete win-win: the school pays less for the equipment it purchases, thanks to our substantial purchasing power and pooled resources. We then return money to the school for teachers’ lounge activities, teaching teams, personal development, and similar purposes. That is the goal of the initiative.”

Although school procurement consists largely of small purchases, says Steinberg, together they represent a market worth billions of shekels. Ashmoret School consolidates these purchases through a transparent online marketplace, enabling schools to buy directly from importers and receive products from multiple suppliers in a single delivery. By streamlining purchasing and logistics, the platform can reduce costs by as much as 20%—generating tens of millions of shekels in overall savings for schools. He adds that he expects Ashmoret School to expand soon to high schools and institutions of higher education as well.

Ashmoret is considering additional areas of expansion to benefit educators, including tourism, real estate, the automotive market, and financial services. Recently, the club launched Ashmoret Market, an online supermarket that provides home delivery to educational personnel.

“Whenever we consider a new business or economic venture,” explains Steinberg, “we ask what it will do for our members. We do not launch ventures to make money or generate profits for their own sake. The profits from our commercial activities are intended for our owners —Israel’s educators. The Israel Teachers’ Union owns 100% of Ashmoret, which means that, ultimately, the teachers themselves are our owners.

“Every venture we undertake has a direct and immediate impact on education professionals. This includes the platforms we have developed for vacations abroad, as well as Ashmoret School—even though that initiative ultimately generates resources for activities that benefit teachers’ lounges. Ashmoret Market is even more directly geared toward our members’ everyday needs, delivering high-quality food products straight to their homes. This has also led us to work directly with importers and develop platforms created exclusively for educators. Teachers and other education professionals are always our foremost consideration.”

Ashmoret will soon be entering into an agreement with a major Israeli college to promote and address innovation within education and the education system itself, says Steinberg. “We will give education professionals and the system the tools needed to introduce innovation. We must invest in it.”

Steinberg credits Yaffa Ben David, secretary-general of the Israel Teachers Union, for her vision and leadership, and adds that Ashmoret has established an adult education institute for retired teachers, which operates twenty-two branches and boasts an enrollment of over 7,000, who receive enrichment and meaningful experiences.

Ashmoret has grown significantly in a difficult atmosphere, he adds, as Israel emerges from three difficult years of war. Steinberg says that teachers have shown remarkable resilience during this time. “Education professionals have served as a steadfast anchor since October 7, offering unwavering support to Israeli students, the education system, and society as a whole. They deserve our appreciation, and we must do everything we can to support them. Throughout the war, they were perhaps the country’s most vital source of stability, keeping the entire system functioning.

“Through our educators, we are caring for the next generation. If we care for our education professionals now, it will lead to a better society, greater security for the State of Israel, and a stronger economy.”