{"id":16374,"date":"2026-06-19T16:32:13","date_gmt":"2026-06-19T16:32:13","guid":{"rendered":"https:\/\/siliconvalleymovingpost.com\/?p=16374"},"modified":"2026-06-19T16:32:13","modified_gmt":"2026-06-19T16:32:13","slug":"black-bank-card-program-to-steer-cash-payments-to-single-mothers-in-government-housing","status":"publish","type":"post","link":"https:\/\/siliconvalleymovingpost.com\/?p=16374","title":{"rendered":"Black bank card program to steer cash payments to single mothers in government housing"},"content":{"rendered":"
\n

By COREY WILLIAMS<\/strong><\/p>\n

One of the few Black-owned banks in the United States is introducing a debit card aimed at helping single mothers who live in government-subsidized housing escape poverty.<\/p>\n

Read more The Trump administration says it is cutting student loan interest. Here are some facts and context<\/a><\/p>\n

The Bank King Card debit card will be offered beginning Friday in honor of Juneteenth by Redemption Bank, which will make a donation from every account opened to nonprofits that will steer the funding to needy families.<\/p>\n

\u201cBank 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\u2019s vaults of opportunity that have been closed to too many for too long,\u201d Redemption Holding Co. chair and Chief Executive Ashley Bell said.<\/p>\n

A 2026 report by the Urban Institute and the Jeremiah Program says households led by single mothers experience widespread economic and caregiving hardship.<\/p>\n

Redemption Bank, based in Holladay, Utah, says it intends to make fixed-amount donations based on new Bank King Card account openings. The amount will be determined annually by the bank\u2019s board of directors and will not be based on the amount of card purchases, according to Redemption Bank.<\/p>\n

Nonprofits that provide direct-cash services would apply for grants through a foundation developed to make sure the money gets to those who need it most.<\/p>\n

\u201cWhat we\u2019ve seen is these guaranteed income programs have been a jolt out of poverty for women around the country, including many women of color,\u201d Bell said.<\/p>\n

\n<\/div>\n

Every dollar helps<\/h4>\n

Money given directly to needy mothers and children is overwhelmingly spent to cover necessary goods or services, according to Chastity Lord, president and chief executive of the Jeremiah Program, which works to improve economic mobility for single mothers.<\/p>\n

But it also does so much more, she said.<\/p>\n

\u201cIt provides dignity,\u201d Lord continued. \u201cIt ensures summer learning, not leaving kids at home. It increases nutrition. It allows the mom to make powerful decisions that benefit their children and their families instead of making decisions to just get by.\u201d<\/p>\n

A pilot program through the Ohio Mother\u2019s Trust funneled $500 each month for a year to 32 single mothers in the Columbus, Ohio, area.<\/p>\n

\n<\/div>\n

For Juanita Amakor of Columbus, the cash she received through the Ohio Mother\u2019s Trust allowed her to catch up on bills and pay rent.<\/p>\n

Read more How Burnham\u2019s resounding victory could lead to Starmer\u2019s downfall<\/a><\/p>\n

\u201cIt\u2019s the breathing room it gives you, knowing there is something extra coming in. It relieves a lot of anxiety,\u201d said Amakor, 36, who has a 7-year-old daughter. \u201cThis help goes a long way, even if it was for something as little as being able to take my child to the grocery store, to the clothing store.\u201d<\/p>\n

In Michigan, Rx Kids gives women a one-time allocation of $1,500 during pregnancy, followed by $500 per month throughout the child\u2019s first months. The $1,500 can be used on food, prenatal care, rent, cribs or other needs. The $500 monthly stipend can be spent on formula, diapers or childcare.<\/p>\n

Kinea Wright and her family received funding through the Rx Kids program in Flint. It helped with some bills, diapers for her newborn daughter and other needs, especially after her husband was injured in a forklift accident.<\/p>\n

\u201cInitially, (the money) was put up for a rainy day,\u201d said Wright, 46. \u201cI didn\u2019t know the rainy day would come sooner than we thought. It was a blessing in disguise.\u201d<\/p>\n

Juneteenth connection<\/h4>\n

A year ago, Redemption Holding Co. completed its acquisition of Utah-based Holladay Bank & Trust, making it the first time a bank has been owned by a Black-led investment group in the Western U.S.<\/p>\n

At the time, Redemption Bank had roughly $65 million in assets. It primarily focuses on commercial lending and small business loans. Bernice A. King, the youngest child of the Rev. Martin Luther King Jr., is a co-founder and senior vice president of the bank.<\/p>\n

\u201cEconomic opportunity must be practical, accessible and rooted in the needs of families,\u201d King said. \u201cBank King Card is an innovative way to support that work. It creates a practical opportunity for people to align their financial choices with their values while supporting mothers, children and families working toward long-term stability.\u201d<\/p>\n

A Bank King Card credit card is expected to be introduced later with interest rates capped at 12%.<\/p>\n

The announcement of the Bank King Card coincides with Juneteenth, which also is the one-year anniversary of Redemption\u2019s acquisition of Holladay Bank & Trust.<\/p>\n

Juneteenth \u2014 which combines \u201cJune\u201d and \u201cnineteenth\u201d \u2014 represents the date in 1865 when enslaved people in Galveston, Texas, learned they had been freed. It came two years after President Abraham Lincoln\u2019s Emancipation Proclamation. In 2021, President Joe Biden designated it a federal holiday.<\/p>\n

Read more World shares are mixed and US futures fall after a tech-led rally on Wall St<\/a><\/p>\n

Corey Williams is a member of AP\u2019s Race & Ethnicity team.<\/em><\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

One of the few Black-owned banks in the U.S. is introducing a debit card aimed at helping single mothers who live in government subsidized housing escape poverty.<\/p>\n","protected":false},"author":1,"featured_media":16373,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-16374","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-national-news"],"yoast_head":"\nBlack bank card program to steer cash payments to single mothers in government housing - Silicon Valley Moving Post<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/siliconvalleymovingpost.com\/?p=16374\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Black bank card program to steer cash payments to single mothers in government housing - Silicon Valley Moving Post\" \/>\n<meta property=\"og:description\" content=\"One of the few Black-owned banks in the U.S. is introducing a debit card aimed at helping single mothers who live in government subsidized housing escape poverty.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/siliconvalleymovingpost.com\/?p=16374\" \/>\n<meta property=\"og:site_name\" content=\"Silicon Valley Moving Post\" \/>\n<meta property=\"article:published_time\" content=\"2026-06-19T16:32:13+00:00\" \/>\n<meta name=\"author\" content=\"admin\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"4 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/siliconvalleymovingpost.com\\\/?p=16374#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/siliconvalleymovingpost.com\\\/?p=16374\"},\"author\":{\"name\":\"admin\",\"@id\":\"https:\\\/\\\/siliconvalleymovingpost.com\\\/#\\\/schema\\\/person\\\/636e2e5a10a21cf87fe6eb5951e8a6b7\"},\"headline\":\"Black bank card program to steer cash payments to single mothers in government housing\",\"datePublished\":\"2026-06-19T16:32:13+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/siliconvalleymovingpost.com\\\/?p=16374\"},\"wordCount\":843,\"commentCount\":0,\"image\":{\"@id\":\"https:\\\/\\\/siliconvalleymovingpost.com\\\/?p=16374#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/siliconvalleymovingpost.com\\\/wp-content\\\/uploads\\\/2026\\\/06\\\/038ce786d7f4856e118059a13e8b4d65.webp\",\"articleSection\":[\"National News\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/siliconvalleymovingpost.com\\\/?p=16374#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/siliconvalleymovingpost.com\\\/?p=16374\",\"url\":\"https:\\\/\\\/siliconvalleymovingpost.com\\\/?p=16374\",\"name\":\"Black bank card program to steer cash payments to single mothers in government housing - Silicon Valley Moving Post\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/siliconvalleymovingpost.com\\\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\\\/\\\/siliconvalleymovingpost.com\\\/?p=16374#primaryimage\"},\"image\":{\"@id\":\"https:\\\/\\\/siliconvalleymovingpost.com\\\/?p=16374#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/siliconvalleymovingpost.com\\\/wp-content\\\/uploads\\\/2026\\\/06\\\/038ce786d7f4856e118059a13e8b4d65.webp\",\"datePublished\":\"2026-06-19T16:32:13+00:00\",\"author\":{\"@id\":\"https:\\\/\\\/siliconvalleymovingpost.com\\\/#\\\/schema\\\/person\\\/636e2e5a10a21cf87fe6eb5951e8a6b7\"},\"breadcrumb\":{\"@id\":\"https:\\\/\\\/siliconvalleymovingpost.com\\\/?p=16374#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\\\/\\\/siliconvalleymovingpost.com\\\/?p=16374\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/siliconvalleymovingpost.com\\\/?p=16374#primaryimage\",\"url\":\"https:\\\/\\\/siliconvalleymovingpost.com\\\/wp-content\\\/uploads\\\/2026\\\/06\\\/038ce786d7f4856e118059a13e8b4d65.webp\",\"contentUrl\":\"https:\\\/\\\/siliconvalleymovingpost.com\\\/wp-content\\\/uploads\\\/2026\\\/06\\\/038ce786d7f4856e118059a13e8b4d65.webp\",\"width\":1024,\"height\":682},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\\\/\\\/siliconvalleymovingpost.com\\\/?p=16374#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\\\/\\\/siliconvalleymovingpost.com\\\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Black bank card program to steer cash payments to single mothers in government housing\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\\\/\\\/siliconvalleymovingpost.com\\\/#website\",\"url\":\"https:\\\/\\\/siliconvalleymovingpost.com\\\/\",\"name\":\"Silicon Valley Moving Post\",\"description\":\"\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\\\/\\\/siliconvalleymovingpost.com\\\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\\\/\\\/siliconvalleymovingpost.com\\\/#\\\/schema\\\/person\\\/636e2e5a10a21cf87fe6eb5951e8a6b7\",\"name\":\"admin\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/50b1ad2e498f523425ee0a8cc5180a210646db1622662a3d56cc405d3e0c346a?s=96&d=mm&r=g\",\"url\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/50b1ad2e498f523425ee0a8cc5180a210646db1622662a3d56cc405d3e0c346a?s=96&d=mm&r=g\",\"contentUrl\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/50b1ad2e498f523425ee0a8cc5180a210646db1622662a3d56cc405d3e0c346a?s=96&d=mm&r=g\",\"caption\":\"admin\"},\"sameAs\":[\"http:\\\/\\\/siliconvalleymovingpost.com\"],\"url\":\"https:\\\/\\\/siliconvalleymovingpost.com\\\/?author=1\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Black bank card program to steer cash payments to single mothers in government housing - Silicon Valley Moving Post","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/siliconvalleymovingpost.com\/?p=16374","og_locale":"en_US","og_type":"article","og_title":"Black bank card program to steer cash payments to single mothers in government housing - Silicon Valley Moving Post","og_description":"One of the few Black-owned banks in the U.S. is introducing a debit card aimed at helping single mothers who live in government subsidized housing escape poverty.","og_url":"https:\/\/siliconvalleymovingpost.com\/?p=16374","og_site_name":"Silicon Valley Moving Post","article_published_time":"2026-06-19T16:32:13+00:00","author":"admin","twitter_card":"summary_large_image","twitter_misc":{"Written by":"admin","Est. reading time":"4 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/siliconvalleymovingpost.com\/?p=16374#article","isPartOf":{"@id":"https:\/\/siliconvalleymovingpost.com\/?p=16374"},"author":{"name":"admin","@id":"https:\/\/siliconvalleymovingpost.com\/#\/schema\/person\/636e2e5a10a21cf87fe6eb5951e8a6b7"},"headline":"Black bank card program to steer cash payments to single mothers in government housing","datePublished":"2026-06-19T16:32:13+00:00","mainEntityOfPage":{"@id":"https:\/\/siliconvalleymovingpost.com\/?p=16374"},"wordCount":843,"commentCount":0,"image":{"@id":"https:\/\/siliconvalleymovingpost.com\/?p=16374#primaryimage"},"thumbnailUrl":"https:\/\/siliconvalleymovingpost.com\/wp-content\/uploads\/2026\/06\/038ce786d7f4856e118059a13e8b4d65.webp","articleSection":["National News"],"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/siliconvalleymovingpost.com\/?p=16374#respond"]}]},{"@type":"WebPage","@id":"https:\/\/siliconvalleymovingpost.com\/?p=16374","url":"https:\/\/siliconvalleymovingpost.com\/?p=16374","name":"Black bank card program to steer cash payments to single mothers in government housing - Silicon Valley Moving Post","isPartOf":{"@id":"https:\/\/siliconvalleymovingpost.com\/#website"},"primaryImageOfPage":{"@id":"https:\/\/siliconvalleymovingpost.com\/?p=16374#primaryimage"},"image":{"@id":"https:\/\/siliconvalleymovingpost.com\/?p=16374#primaryimage"},"thumbnailUrl":"https:\/\/siliconvalleymovingpost.com\/wp-content\/uploads\/2026\/06\/038ce786d7f4856e118059a13e8b4d65.webp","datePublished":"2026-06-19T16:32:13+00:00","author":{"@id":"https:\/\/siliconvalleymovingpost.com\/#\/schema\/person\/636e2e5a10a21cf87fe6eb5951e8a6b7"},"breadcrumb":{"@id":"https:\/\/siliconvalleymovingpost.com\/?p=16374#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/siliconvalleymovingpost.com\/?p=16374"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/siliconvalleymovingpost.com\/?p=16374#primaryimage","url":"https:\/\/siliconvalleymovingpost.com\/wp-content\/uploads\/2026\/06\/038ce786d7f4856e118059a13e8b4d65.webp","contentUrl":"https:\/\/siliconvalleymovingpost.com\/wp-content\/uploads\/2026\/06\/038ce786d7f4856e118059a13e8b4d65.webp","width":1024,"height":682},{"@type":"BreadcrumbList","@id":"https:\/\/siliconvalleymovingpost.com\/?p=16374#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/siliconvalleymovingpost.com\/"},{"@type":"ListItem","position":2,"name":"Black bank card program to steer cash payments to single mothers in government housing"}]},{"@type":"WebSite","@id":"https:\/\/siliconvalleymovingpost.com\/#website","url":"https:\/\/siliconvalleymovingpost.com\/","name":"Silicon Valley Moving Post","description":"","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/siliconvalleymovingpost.com\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/siliconvalleymovingpost.com\/#\/schema\/person\/636e2e5a10a21cf87fe6eb5951e8a6b7","name":"admin","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/secure.gravatar.com\/avatar\/50b1ad2e498f523425ee0a8cc5180a210646db1622662a3d56cc405d3e0c346a?s=96&d=mm&r=g","url":"https:\/\/secure.gravatar.com\/avatar\/50b1ad2e498f523425ee0a8cc5180a210646db1622662a3d56cc405d3e0c346a?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/50b1ad2e498f523425ee0a8cc5180a210646db1622662a3d56cc405d3e0c346a?s=96&d=mm&r=g","caption":"admin"},"sameAs":["http:\/\/siliconvalleymovingpost.com"],"url":"https:\/\/siliconvalleymovingpost.com\/?author=1"}]}},"_links":{"self":[{"href":"https:\/\/siliconvalleymovingpost.com\/index.php?rest_route=\/wp\/v2\/posts\/16374","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/siliconvalleymovingpost.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/siliconvalleymovingpost.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/siliconvalleymovingpost.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/siliconvalleymovingpost.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=16374"}],"version-history":[{"count":0,"href":"https:\/\/siliconvalleymovingpost.com\/index.php?rest_route=\/wp\/v2\/posts\/16374\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/siliconvalleymovingpost.com\/index.php?rest_route=\/wp\/v2\/media\/16373"}],"wp:attachment":[{"href":"https:\/\/siliconvalleymovingpost.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=16374"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/siliconvalleymovingpost.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=16374"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/siliconvalleymovingpost.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=16374"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}