LOS ANGELES, Calif. (FOX 11) - Planning on renewing or opening membership to your local Costco for those fabulous warehouse savings? The last day in May will also be the last day Costco members can renew their memberships before a fee increase goes into effect on Thursday.
The membership price hike marks the first time in over five year that Costco members will see an increase in their fees.
The company made an announcement earlier in the year of their plans to raise the membership costs to $60.00 - an increase of $5.00 from the current rate of $55.00 per year.
The fee increase also applies to Gold Star, Business and add-on members, the company reported. Executive Costco memberships will make the jump in price to $10.00 more, bringing annual fees from $110.00 to $120.00
Costco estimates that the fee increases will impact the 35-million members across the U.S. and Canada as they take effect on June 1st, 2017.
News of the membership fee increases came as the company announced its second-quarter earnings held at $29.13 billion, which climbs 6-percent from last year.
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