Costco membership fees going up

(CNN)– Sometimes you have to spend money to save money. At least that’s what Costco hopes its members think.

The retailer is raising membership fees. It’s only going to cost basic members an extra $5 a year, though.

That will bring the cost up to $65. Executive memberships are going up an extra $10 to make the new price be $130.

It’s the first membership price hike in 7 years. But it should help keep other prices at the store down.

Last year, Costco made $4.6 billion from membership fees.