My wife and I have done some research and can't find a reason not to bank the cord blood. We took many vendors and options into account... cost, public vs. private banks, ethical considerations, etc. God forbid anything should happen and we hadn't taken the opportunity when it was here.
We found a coupon for $250 off banking at this nonprofit website http://enonprofits.org/cbr.html
We chose Cord Blood Registry at www.cordblood.com and got a great deal. $250 off with code M1971