My wife is also expecting and probably 2/3's of the "welcome packet" we received from the OB was advertising for cord blood banking. Not at all what I was expecting.
From my research, private banking is essentially a scam, preying on new parents who suddenly have to consider all the things that could go wrong for the new life they're bringing into the world. Stem cell transplants are exceedingly rare to begin with, and an even smaller % would use cord blood. So to just keep some on hand really doesn't make sense given that we're talking fractions of fractions of fractions of a %. Unless there is family history of a condition that would a) be at risk of a stem cell transplant and b) be able to utilize cord blood, it is just such a rare occurrence not to be worth it at any dollar amount. All of this is the sentiment of the AAP, ACOG, and other various organizations that represent physician specialists.
The flip side is free, public banking: donate the cord blood and if someone can use it, they get it. No cost to parents, and maximizes the potential benefit of the blood. The same organizations above recommend this option.
