American Bankers Association Senior Vice President and Senior Economist Keith Leggett will retire from his post in January. Following are Leggett's Top 5 most controversial quotes about credit unions that have graced the pages and website of CU Times. Leggett will continue his Credit Union Watch blog after his retirement.

1. Credit union soul searching.

“When you say anyone with a heartbeat can be a member for $10 or $20 'donation', you've lost your souls because it's a movement away from the core value of credit unions. There's no common bond in a $20 bill.” ~ CU Water Cooler Symposium 2012, where he challenged the industry to ponder if it has lost its soul?

2. Ownership is overrated.

“What is it you get to exercise as an owner outside of voting for a board of directors?  When you look at that ownership stake you can't transfer it, can't sell it, can't take it with you. So while you give a great PR line that 'you own us,' I don't see anything being concrete with regard to ownership. On top of that do you treat your members as owners?” - CU Water Cooler Symposium 2012, questioning the idea of “ownership” at credit unions.

3. Level the playing field.

“It's another attempt by credit unions to be more like banks. And if they want to do that they should pay taxes, it's a fair tradeoff.” - on credit unions wanting supplemental capital authority.

4. One big dysfunctional family.

“Credit unions and banks are cousins. And like family members, we sometimes get along and sometimes fight. There are major issues that confront the financial services industry, and if we don't work together, our business models will be damaged.” – From the Dec. 7, 2009 dinner meeting of the Metropolitan Area Credit Union Management Association.

5. Isn't it ironic?

“Credit unions want to make the debate into JPMorgan Chase relative to credit unions. In reality, roughly half of banks have assets under $100 million. Our whole issue is not with the vast majority of credit unions. The focus is on the new breed of credit unions. Economists use statistics like a drunkard uses a lamppost: for support.” – On credit union lobbyists' use of statistics in response to banker arguments in 2004.