A single-rail optical memory is proposed. The associated memory is based on a double-correlator architecture coupled with an optoelectronic thresholding feedback module. The latter permits complete translation invariance of the neural network. The system requires only a single 35-mW He-Ne laser. The associative memory is recorded with the help of computer-generated holograms. The global iterative coding [Opt. Eng. 32, 2216 (1993)] technique provides good performance with high diffraction efficiency.