As construction of the new stadium located in Townsville's CBD nears completion, it was announced the facility would be known as Queensland Country Bank Stadium.

Queensland Country Credit Union, which will transition from a credit union to a member-owned bank in 2020, has signed a six-year naming rights partnership with the venue.

Mundingburra MP Coralee O'Rourke said Queensland Country was the perfect partner for the new home of regional Queensland footy and more.

"Queensland Country is the perfect partner for the stadium, which is set to host major events from February," Ms O'Rourke said.

"I'm delighted that the successful naming rights partner is also a local, with their head office in Townsville and nearly 50 years' experience supporting hardworking regional Queenslanders.

"Queensland Country Credit Union is an important business for North Queensland; their decision to come on board as naming rights sponsor reinforces the significance of this investment for the whole region.

"This flagship project has already engaged more than 480 local businesses during design and construction, supporting 750 full-time equivalent jobs. The local economy is set to benefit on game day with the stadium a stone's throw from the city centre."

Townsville MP Scott Stewart said the Queensland Country Bank Stadium had a wonderful ring to it.

"Along with the North Queensland Cowboys, Queensland Country is a household name in North Queensland.

"Once the stadium opens it will be the name on every sports fan's lips as a must-see for 2020.

"This venue has been built by North Queenslanders, for North Queenslanders and it's fitting that a high-profile Queensland business is putting their name to the jewel in our stadium's crown.

"All of the funds generated from this six-year partnership will go towards maintaining this glorious stadium for years to come, for locals and tourists alike."

Queensland Country chair Bruno Cullen said the investment was part of giving back to the community.

"We're so excited that the opportunity to add the stadium to the list of ways we're investing in Queensland communities coincides with our change to become a member-owned bank," Mr Cullen said.

"We can't wait to be involved in the incredible major events, sport and community activities set to take place there," he said.