Thank You all ladies!!! I have spent some time this afternoon looking up some information and even forwarded some information to my mom. After reading some of your comments, I do agree about it being a waste of money that could be better used somewhere else. I will be seeing my parents again here in a couple of weeks and I think we should have an in depth discussion about banking the cord blood.
I have also been thinking my mom may be feeling she has to be fair to me for the money she has spent on my brother, paying for his health insurance so he could get surgery to save his eye sight. It doesn't need to be fair, we each have different needs.
I have seen some posters mention leaving the cord attached (not sure what the term is), it seems this could be more beneficial at the time. At this point, I am leaning towards not private banking the cord blood.