Private Banking vs. Public Donation After cord blood is collected it can be banked, frozen at very low temperatures and stored, for future use. Cord blood can be donated to public cord blood banks and made available for anyone who needs to use it, or it can be retained in private banks for ones own use or use by a family member. In 2017, the American Academy of Pediatrics reported that there are about 800,000 units of cord blood stored at public banks, and over 5 million units banked for private use worldwide.