Velma was born in Wichita on May 16th. She graduated from Wichita North High School and Wichita Business College. She was hired at Cessna Aircraft Company in 1937, to be Executive Secretary to Dwane L. Wallace. They married in 1941 and had 4 daughters.  Velma shared Dwane’s love of flying, and became a pilot herself, with single and multi-engine ratings. She and Dwane established the Wallace Scholar Program at Wichita State University in 1976 to provide scholarships to engineering students. Velma was always involved with the Wichita community in programs such Velma passed away on July 8, 2012 in her home in Wichita, KS. Though she is gone, her legacy has not been forgotten within the Wichita and surrounding community.