Costco member prices are rising this weekend: Here are the new amounts

There's a big change coming to all Costco stores in the U.S. and Canada this weekend as the company will raise member prices for the first time in six years.

The retailer announced in July that it would increase rates starting Sunday, September 1 of this year. Costco estimates that this move will affect more than 50 million people.

Costco currently offers three types of memberships: Gold Star Membership, with a Annual fee of $60; Business membership, Also 60 USD per year; And Board membership, what costs 120 US dollars. Here you can find out how much the prices will increase and what the new amounts will be.

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New Costco membership prices starting this weekend

Gold Star membership prices will increase by five dollars starting Sunday. This increase all Gold Star members will pay an annual fee of $65 in the United States and Canada.

Meanwhile, membership fees for business customers and additional members for business customers, will also be increased by five dollars, from 60 to 65 dollars annually.

Finally, Annual fees for Executive memberships will increase by $10 from $120 to $130. Basic membership costs $65, upgrading to Executive membership costs an additional $65.

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While prices for executive memberships are increasing, the benefits for these members are also greater. Executive membership offers greater savings as well as a 2% annual reward on qualified purchases. Those with an Executive membership also receive a higher maximum annual remunerationas it will rise from $1,000 to $1,250.

According to Costco, the rate increases will affect approximately 52 million members in the U.S. and Canada, just over half of whom have executive memberships. Costco currently operates 882 warehousesincluding 609 in the United States and Puerto Rico and 108 in Canada.