Following a short retirement, he launched The Herjavec Group, a technology company that grew from $400,000 in sales with three employees to currently $125 million and nearly 200 employees, his bio read.

Herjavec is a judge on ABC's Shark Tank, which is now in its third season. The program features business pitches from aspiring entrepreneurs to a panel of potential investors.

Herjavec will also be one of the judges for NACUSO's Next Big Idea Competition. In collaboration with the Filene Research Institute, NACUSO is currently screening for the ideas that will best help a credit union or CUSO:

• improve earnings and capital to support growth and returns to members
• enhance member service
• deliver new products and/or services to their members
• improve delivery channels to their members

Some may be at the early stage of development while others may be ready to be delivered or implemented, and all will help credit unions and CUSOs grow, deal with challenges or help better serve their member and owners, NACUSO said.

In the famous shark tank tradition, NACUSO said it will have four diverse, well-known innovators as judges to ask questions of the winning innovators who are selected to present to attendees at the group's annual conference.

Attendees will also be able to vote for the winner of the competition using their smart phone and iPad app.

Submissions for the contest are now being accepted online. The deadline is Feb. 15.