Costco to Raise Your Membership Fee

LUBBOCK, TX – Costco has increased its membership fees for the first time since 2017, effective Sunday, September 1, 2024.

For the first time in seven years, annual membership fees for Gold Star individual, Business, and Business add-on members in the U.S. and Canada increased by $5, bringing the total to $65.

Executive Memberships in both countries also saw a $10 increase, raising the fee to $130. This includes the $65 Primary membership plus an additional $65 for the Executive upgrade. However, the maximum annual 2% Reward for Executive Members has been increased from $1,000 to $1,250.

These changes will affect approximately 52 million memberships, including new sign-ups and renewals. The company first announced the price hike as part of a monthly sales report in July.

In comparison, competitor Sam's Club raised its fees nearly two years ago.

Despite the increase in membership fees, Costco's famous hot dog-and-soda combo will continue to be priced at $1.50. During the chain’s Q3 2024 earnings call on May 30, new CFO Gary Millerchip assured that this price, unchanged since the 1980s, will remain the same.

Costco now operates 882 warehouses, with 609 locations in the United States, Canada, and Puerto Rico. 

Additionally, the company recently implemented a new policy requiring customers to scan their cards at the entrance before entering the warehouse.