Costco Membership Fee Increase Goes Into Effect

ISSAQUAH, WA - The first Costco membership fee increase in about six years kicks in on June 1. The increase will affect about 35 million members in the U.S. and Canada, according to the company. The fee increase was announced in March along with the company's Q2 earnings statement. On average, Costco increases membership fees about every five years.

Costco membership fees will increase by $5 for most consumers and business memberships. Executive memberships — which offer cash-back rewards — will increase $10. That means Goldstar, Business, and Business add-on memberships will cost $60.

The Executive membership fee will increase from $110 to $120, but consumers will also get a maximum annual reward increase from $750 to $1,000.

"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 Issaquah-based company said in a statement in March.

Costco has about 90 million members and operates more than 500 warehouse stores across the U.S.

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