How can I transfer money from an IRA into another institution?

It’s easy. Complete a form we give to you. We’ll mail it to the other institution and they will send the credit union the amount you designate. We take care of the transfer with the other institution so you do not need to handle paperwork and check. You can transfer money by this method an unlimited number of times each year. Another way is the rollover method. You withdraw the money from your IRA in a check made payable to you. You have 60 days from the date of the check to re-deposit the money in an IRA. You can have one rollover in a 12-month period. There is no government penalty for moving your money, if you follow the rules above. However, your institution probably will charge you a fee for a transfer. For example, our fee is $10 to transfer money from the credit union to another institution.