(KERO) — The price of a Sam's Club membership is increasing for the first time in nine years.
The news came in a letter from Sam's Club CEO Kathryn McLay who says entry-level club members will see a jump from $45 to $50 a year. Premium members will pay $110 or an extra ten bucks per year which gets them extended shopping hours and other perks.
But to ease the pain of the price increase, parent company Walmart says they'll give back the difference in Sam's Cash for the first year.
The price change is effective October 17th.
