It seems like Costco members have been anticipating this news for some time, there will be a membership cost increase, and it is coming soon. There have been changes in Costco over the past few years. They have seen a change in leadership with a new CEO Ron Vachris who took over duties this past January.

Costco Has Made Changes

Costco has changed some things already, some are bigger than others. They are looking to expand food courts in some locations. They have been cracking down on people eating in the food courts without a membership. They have even changed the packaging on their rotisserie chicken.

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The question that seemed to be on a lot of shoppers minds was when was there going to be a membership price increase? Most customers knew it was coming, there hadn't been an increase since 2017. It was announced by Costco, that in fact, there is going to be an increase in membership fees and it will have an impact on around 52 million members around the world.

Membership Price Increase Information

The increase will be effective September 1, 2024. According to the announcement, it will be a $5 increase for U.S. and Canada Gold Star (individual), Business and Business add-on members, that will increase the annual membership price to $65. Executive Memberships will increase from $120 to $130 annually, it will also increase the maximum annual 2% rewards from $1,000 to $1,250 that are associated with the Executive Memberships.

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There has been no word, yet, on whether the price of their hot dogs sold at the food courts will raise above $1.50.

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