Cord blood banking

My mother was diagnosed with Mulitple Myeloma (a cancer of the plasma cells) this past spring. Since then I have learned so much about different things. Cord blood banking being one of them. They say cord blood is the purest blood on the planet and its perfect for those who cannot produce their own stem cells. My question is there  any costs to giving your baby's cord to a blood bank and what's the procedure?  My husband and I would love to do it this time with baby #2. Donating your babies cord blood can save a cancer patients life! Thanks in advance!