I need feedback advice about a Washington Mutual IRA…?

In the late-1980s, I worked for an independent self-service gas station and the owner had given me an Independent Retirement Account (I don’t remember if it was a bonus or if it was an employer-match), but when I left, the account remained open (thru American Savings&Loan) and several months later, I found out that they were bought by Washington Mutual (and to this day, the account is still open).

I have a financial investor with my current bank and have another IRA from my last employer and he has distributed the funding into 3 separate accounts (Small Cap, Balanced Fund, and Cash Management) and when I mentioned that I had the account with Washington Mutual, he said that it was FDIC-insured and not to worry about it and to leave it alone, even though I have the IRA with his bank.

Is there any advantage to leaving my account open at Washington Mutual, given all the problems they had with IndyMac and FreddieMac and FannieMac? I know that the MACs have to do with mortgages and that my IRA is something entirely different.

Can anyone give me feedback about my IRA with Washington Mutual?
I just turned 45 and I understand that there is a penalty of some sort to withdraw any or all of the IRA before I turn 59½.

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