Weldy Olson came from a family of nine well-known hockey playing brothers, who as a group are members of 12 Halls of Fame. They were from Marquette, Michigan, but Weldy Olson was the youngest, and the best of them. He played college hockey at Michigan State, where he set the school scoring record with 125 points, being named co-captain and MVP in his senior year of 1954-55. He represented the United States internationally for five straight years, sandwiching three world championship appearances in between his two Olympic medals.
Olson went on to be a long time referee, amateur coach, official, board member and league administrator. He has been inducted into the Michigan Amateur Sports Hall of Fame, the Upper Peninsula (Michigan) Sports Hall of Fame, the Michigan State University Athletic Hall of Fame, and the Hancock County Ohio Sports Hall of Fame in Findlay, Ohio.