The black-owned Redemption Bank, in the United States introduced a debit card aimed at helping single mothers who live in government-subsidised housing escape poverty.

The Bank King Card debit card launched on Friday in honour of Juneteenth by Redemption Bank, will make donations from every account opened to nonprofits that will steer the funding to needy families.

"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.