Valde Lake was named in honour of Pilot Officer Victor Lewis Valde. He enlisted and served as an air gunner with the Royal Canadian Air Force and was killed in action on 2 November 1944 at 20 years of age. Valde was the only son of Lewis and Emma Valde and attended Transcona Memorial United Church prior to enlistment.
Victor Valde Memorial Park and Valde Avenue in Transcona are also named in honour of Pilot Officer Valde.