Costco is raising the cost of its membership fees for the first time in seven years.
In a July 10, 2024, announcement, Costco revealed that annual and executive membership fees will increase on Sept. 1, 2024.
Annual memberships for United States and Canadian Gold Star individuals, businesses, and business add-on members will now cost $65 -- a $5 increase from the previous price of $60.
Annual fees for executive memberships in the U.S. and Canada will increase $10, from $120 to $130. The maximum annual 2% reward associated with the executive membership will rise from $1,000 to $1,250.
About 52 million memberships are affected by these price increases.
Costco is a members-only big-box chain that has 882 warehouses, including 609 in the U.S. and Puerto Rico and 108 in Canada.
Click here to read the full announcement on Costco’s website.