I don't know if this is a known future, but since I couldn't find any mention of it, I decided to post.
El Al charges (What???) $25 for opening a Matmid account and then, you get an account with 30 points as an opening bonus.
Occasionally, there are promo codes to open an account for free, (not sure if they get the bonus too), but I couldn't find anything at the moment.
However, it seems that you can create a free account through American Express Membership Rewards.
From the top menu, go to "Point Summary" under "Rewards". On the bottom right, open "Linked Travel Programs" and click on "Enroll additional programs", choose El Al and follow instructions.
I've done this for both myself and for one of my AU's, (on their own AMEX online account).
Both times, I received some sort of error, so I delinked the account and tried to enroll again, only to receive the same error. But a while later, (maybe a half an hour of so) I received an email with my account number, and then used "Forgot Password" on El Al's website to get a password to my email within a few minutes.
I don't know if this is the way it needs to be done, (maybe I didn't wait long enough the first time I tried) but this is how it worked for me.
BTW: Did not get the bonus.
