Costco Rates To Increase Before Woodbury Location Opens

We have some bad news for shoppers. Before its location in Woodbury opens, Costco's membership rates will increase.

The company announced that, effective June 1, 2017, it will increase annual membership fees by $5 for U.S. and Canada Goldstar (individual), Business, and Business add-on members (“Primary” Members).

With this increase, all U.S. and Canada Goldstar, Business and Business add-on members will pay an annual fee of $60.

Also effective June 1, annual fees for Executive Memberships in the U.S. and Canada will increase from $110 to $120 (Primary membership of $60, plus the Executive upgrade of $60), and the maximum annual 2% reward associated with the Executive Membership will increase from $750 to $1,000.

The fee increases will impact around 35 million members, roughly half of them Executive Members, according to a news release from the company.

Woodbury location

Costco is building a 163,500 square foot store near the intersection of Tamarack Road and Weir Drive. The store is expected to open fall 2017.

Costco currently operates 728 warehouses, including 508 in the United States and Puerto Rico, 94 in Canada, 37 in Mexico, 28 in the United Kingdom, 25 in Japan, 13 in Korea, 13 in Taiwan, eight in Australia and two in Spain.

Image via Google Streetview