Is the IRA in a cash account at your bank? Some banks allow investments, so if you're able to purchase stocks or ETFs that is valuable information. For example, could you purchase Vanguard Total Stock Market ETF ("VTI") within your current IRA?
If you do a trustee-to-trustee transfer, you can keep the IRA in it's tax deferred form. That's best, but you also need to have a destination. I recommend Vanguard, mentioned above, because whichever fund you pick will have low fees. You would need to fill out forms and submit them to Vanguard, and they would handle the transfer. Your bank wants to keep your money, so none of the transfers start with them.
I'd also recommend keeping the IRA as your own investment so you have more control over it. You could invest in a target retirement fund and do little else, or you could break it into bond / stock and even international stock allocations.