The price for a Costco membership has increased as of Sunday, marking the first rise in fees since 2017.

In July, the company announced that the cost of the Gold Star membership would go up from $60 to $65 in both the United States and Canada.

The price for executive memberships will now shift from $120 to $130, and the maximum annual reward for members will also increase from $1,000 to $1,250.

This adjustment will affect approximately 52 million membership accounts, with about half of those being executive memberships, according to the retailer.

“It has been more than seven years since Costco’s last general membership fee increase,” the company stated in a message to YSL News. “Membership fees help to offset costs and keep our prices low. A slight increase will enable us to offer even more value to our members.”

Costco’s Previous Membership Fee Increase Occurred in 2017

The retailer from Washington reported net sales of $210.55 billion for the first 44 weeks of 2024, a 6.9% increase over the previous year, and operates 882 warehouses across the U.S. and Puerto Rico, Canada, Mexico, Japan, and several other locations.

Additionally, Costco has online shopping platforms in the U.S., Canada, the U.K., Mexico, Korea, Taiwan, Japan, and Australia.

In that same year, the cost of executive memberships also increased from $110 to $120, impacting around 35 million members, as reported by the Associated Press.