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Costco is increasing its membership fees starting this summer.
The company announced the move in an earnings report issued Thursday.
Effective June 1, the price of a basic membership with the wholesale retailer will rise from $55 to $60.
The change also applies to all U.S. and Canadian Goldstar and business memberships. Those customers will also pay $60.
The price of an executive membership will rise from $110 to $120. The maximum annual two per cent reward that comes with the premium membership will also increase from $750 to $1,000.
The company stated it expects the changes will affect roughly 35 million members.
Costco has tended to raise fees about every five or six years. The prices last went up in January 2012.
