As of September 1, 2024, Costco members in Canada are facing higher annual fees. The membership price for Gold Star, Business, and Business add-on members has risen by $5, bringing the cost to $65 annually. Executive memberships, which previously cost $120, now cost $130 per year. However, Costco has increased the maximum annual 2 per cent reward for executive members from $1,000 to $1,250, offering a higher potential return despite the fee hike.
Costco initially announced the price increase earlier this summer, applying it to members in both Canada and the United States. The company estimates that the hike will impact around 52 million memberships, with over half being executive members.
Costco operates 882 warehouses globally, including 609 in the United States and 108 in Canada.