Family 1 was chartered May 19, 1964 to serve the employees of Unocal Science and Technology located in Brea.

Changes in Unocal's presence in California prompted Family 1 to move offsite in 1995 and seek a community charter to serve the communities of Placentia and Yorba Linda, CA. When the National Credit Union Administration accepted the change, Family 1 became the only credit union chartered to exclusively serve these two communities.

Membership in Family 1 is now open to anyone who lives, works, or worships in either the city of Placentia or Yorba Linda - or anyone who is related to someone who qualifies for membership. And, due to Family 1's "once a member, always a member" policy, there remains a large concentration of current and former Unocal employees, and their families, in Family 1's membership.