Sam’s Club Raising Membership Prices

PHOTO: Sam's Club is raising its membership fees starting this fall, according to media reports.

Sam's Club is raising its membership fees starting this fall, according to media reports.

The Walmart-owned warehouse chain informed members Wednesday that it was raising both its annual basic Club fee from $45 to $50 and its Plus membership fee from $100 to $110, with the changes taking effect Oct. 17, according to multiple media reports.

It’s the first time in nine years that Sam’s Club has increased the Club fee, and the first time the chain has increased the Plus fee since introducing it in 1999.

CNBC reports Sam’s Club CEO Kath McLay said in the message to members Wednesday that the company is “mindful of the financial pressure on wallets right now,” and that Sam’s Club will reimburse the fee increase this year in the form of Sam’s Cash, which can be used in stores.