Here is my argument, please let me know if it works or not.
By Stone-Weierstrass Theorem (Complex Version), functions in $C_0((0, 1))$ can be uniformly approximated by polynomials in z and $\bar{z}$ which vanishes at 0 and 1. But on (0, 1), $z=\bar{z}$, so it suffices to consider only polynomials in $z$.
Larger Question: I am trying to define $f(a)$ for $a \in A$, $a$ is an element in Banach algebra with spectrum $\sigma(a)\subset [0,1]$, and $f \in C_0(0,1)$. I know that $f(a)$ can be defined using Holomorphic Functional Calculus1 for $f$ holomoprhic on a neighborhood of [0,1], and if $f_n \to f$ on compact subsets of an open neighborhood of $\sigma(a)$, then $f_n(a)$ converges. If the above were true, it seems that I can define $f(a)$ for general $f \in C_0((0,1))$ by using approximation with $f_n(a)$ with $f_n$ polynomials vanishing at 0 and 1.