Costco is raising its membership fee for the first time in 7 years

• Costco said Wednesday that it's raising its annual membership fee.
• It's the first time that Costco has raised the fee since 2017.
• The retailer has hinted for months that a raise was in the future.

Costco's annual membership fee is getting more expensive.

As of September 1, the wholesale club retailer will charge $65 a year for its Gold Star and Business memberships, it said as it announced its June sales results. Currently, the memberships run $60.

Executive memberships, meanwhile, will cost $130 each, up from the current rate of $120.