More info about the name "Velma"
Velma is most likely a diminutive of Wilma, a short form of Wilhelmina. Wilhelmina originates in German language and means "stout protector" or "will to protect". It is a feminine form of Wilhelm or William, which ultimately derives from the Germanic name Willahelm. It is a typical name used in Europe for female royalty. In the English-speaking countries, Velma has been used since the 19th century.