L.M.
I donated the cord blood to the local blood center. There was paperwork that went along with the procedure, and it was a hassle getting it at the hospital since my son was born 3 weeks premature. So I would recommend getting all your paperwork done in advance. But the retrieving of the cord blood was not a problem.
We considered doing the private banking, but decided that the private banks really play up individuals' fears in order to make a buck. This was after discussions with my OB and the childbirth class educator. At that time, it was really hit and miss whether the child's cord blood could be used to treat his own disease--for example, if a child has a genetic problem, his cord blood will have the same cells that led to that genetic problem, so in some cases would not be usable to treat certain diseases. The child would be better off using the cord blood of a healthy individual that had been donated. I think if you or your husband have a family history of genetic diseases that can be treated by saving the cord blood, then by all means, do it.
It is, indeed, scary to think of all the diseases that may occur to our children. But I don't appreciate private corporations taking one's money by playing up on our fears. If everyone donated cord blood to the public blood banks, wouldn't we all have a healthier system? Anyways, just my two cents...
Good luck on the birth of your child!