NEWPORT BEACH, Calif. — Before any form of innovation and collaboration can even began to take shape, there has to be the much-needed phase of critical thinking–something that is sorely lacking these days, said Tom Davis, chairman of the National Association of Credit Union Service Organizations.

To that end, the organization has set out this year to build on its cornerstones: critical thinking, collaboration, innovation, and reinvention of the credit union industry.

"There has been a deterioration of critical thinking in this country and in our education system. We have some wonderful critical thinkers in this industry but we need to broaden it to encourage [critical thinking] to be the norm," said Davis, who is also president/CEO of Davis & Company, a Highlands Ranch, Colo.-based management consulting firm specializing in member focus group research, strategic planning, change management, and board governance. For its part, NACUSO will soon roll out its National Center for Collaboration and Innovation, which recently received $50,000 in seed capital from PSCU Financial Services. At its annual conference April 30-May 3 at the Wynn Las Vegas, NACUSO will feature case studies from credit unions and CUSOs that have put collaboration and innovation in the forefront, Davis said. Two of the keynote speakers, Nicholas Carr, a business writer and speaker whose work centers on strategy, innovation, and technology, and Michael LeGault, author of Think! Why Crucial Decisions Can't Be Made in the Blink of an Eye, will focus on how critical thinking can pay off in the end. NACUSO is also planning a series of regional meetings to address what members have been seeking more information on, the renewed interest on the IRS' unrelated business income tax, for instance, Davis said. Non-interest income, the flat yield curve's impact on margins and operating expenses going onward continue to be critical industry issues, he added, while payday lending and income tax preparation have gained more of the spotlight in the movement.