If you missed the chance to sign up for a new membership just before Costco Canada raised prices, fear not: the chain is offering a sweet new deal.

In July, Costco announced that it was raising annual membership fees for the first time in years, and the price increase came into effect on September 1. The Gold Star membership has increased from $60 to $65 per year, and the higher-tier Executive Membership has jumped from $120 to $130 annually.

Costco offered shoppers a limited-time deal just before the price hike, and now, the retailer is back with another membership deal.

The website reads, "Now is the best time to become a member. At Costco, it's all about quality you can see and feel, brands you know and love, and services you can trust."

You'll receive $80 off a $200 purchase on Costco.ca when you sign up for a $130 Executive Membership. When you sign up for the $65 Gold Star Membership, you'll get $40 off a $100 purchase online.

After completing the signup process, you'll receive a voucher by email within two to four business days. The voucher can only be used online and not at Costco locations.

Redeem the offer using the promo code COSTCO80 for the Executive Membership and COSTCO40 for the Gold Star Membership. Both memberships include free household cards for the primary and affiliate members.

Once you receive your membership number, head to the membership counter at your nearest Costco location. You can show the staff the email to pick up your membership cards.

Unfortunately, you can't sign up for this deal if your membership has just expired. The membership offer only applies to new members and those whose memberships have expired for 18 months or longer.

You might want to take advantage of the deal soon because it ends on December 22. You can sign up for a membership here.

With files from Simran Singh