Who is Novo's sponsor bank?

Novo is a fintech, not a bank. That means we partner with a bank to provide the banking services behind your account.

Our partner is Middlesex Federal Savings, F.A., Member FDIC. They hold your deposits and provide the underlying account infrastructure. This setup—often called a sponsor bank model—is common for fintech companies. It lets you use modern tools through Novo, while your money is held at an established, regulated bank.

Your deposits are held at Middlesex Federal Savings and are FDIC-insured up to $250,000

Middlesex Federal Savings is the name tied to your routing number (211370150).

You may see their name when linking your account to other platforms.

Middlesex Federal Savings also issues your Novo debit card under a license from Mastercard. You can use your card anywhere Mastercard is accepted.