Black-Owned Redemption Bank Launches Debit Card Program for Single Mothers in Need
Black-owned Redemption Bank is introducing a debit card supporting single mothers living in government-subsidised housing. The Bank King card, which launched on Juneteenth, will donate from every available account to nonprofits that support underprivileged families, according to ABC News.
“Bank King Card represents a new regenerative banking model that starts with investing in mothers who are a few hopeful dollars away from breaking out of poverty, and opening up America’s vaults of opportunity that have been closed to too many for too long,” Redemption Holding Co. chair and Chief Executive Ashley Bell said.
About the Bank King card
The bank says it will make fixed-amount donations based on new Bank King Card account openings. Every year, a fixed amount (to be decided by the bank’s board of directors) will be donated. Nonprofits will then ensure the money goes to families in need.
Bernice A. King, who is a co-founder and senior vice president of the bank, said: “Economic opportunity must be practical, accessible and rooted in the needs of families.”
Redemption Bank becoming the first Black-owned Bank West Of Texas
In 2025, Redemption Bank completed its acquisition of Utah-based Holladay Bank and Trust, a woman-led bank that’s operated one brand in Salt Lake City since 1974. The acquisition marked the first time a bank has been owned by a Black-led investment group in the Rockies and Mountain West and also the first time Black investors have acquired a white-owned bank.
It also became the first Black-owned financial institution located outside an economically vulnerable community and the only Black-owned bank serving the vast desert of minority-owned banks between Houston and Los Angeles.
Image: Greg Doherty
