Costco News

Costco to Raise Annual Membership Fee by Over 8%

Increase to Affect U.S. and Canada

Effective March 1, 2024

ISSAQUAH, Wash., July 10, 2024 - Costco Wholesale Corporation (Costco) announced today that it will be increasing its annual membership fee for U.S. and Canadian members, effective March 1, 2024.

U.S. Membership Fee Increase

In the United States, the Gold Star membership fee will increase from $60 to $65 per year, an increase of 8.3%. The Executive membership fee will increase from $120 to $130 per year, an 8.3% increase as well.

Canadian Membership Fee Increase

In Canada, the Gold Star membership fee will increase from $60 to $65 per year, an increase of 8.3%. The Executive membership fee will increase from $120 to $130 per year, also an 8.3% increase.

Reason for Fee Increase

Costco attributed the fee increase to rising operating costs, including increased labor, transportation, and product costs. The company emphasized that the fee increase will help maintain its competitive pricing and exceptional member benefits.

Conclusion

Costco's membership fee increase is a reflection of the current economic climate and the company's commitment to providing value to its members. While the fee increase may come as a slight inconvenience, it also underscores the company's dedication to delivering quality products and services at competitive prices. With Costco's commitment to member satisfaction and its strong financial performance, members can expect continued value and benefits in the years to come.